Company Intelligence — Overview

NMB Bank

The Industry’s Profit Leader, Still Compounding
DSE: NMB · Dar es Salaam Stock Exchange · FY ending 31 Dec
~13,110
Market price · TZS/sh (May 26)
760 bn
FY25 profit after tax
17.6 tn
Total assets
1,519
FY25 EPS · TZS
12.52 tn
Customer deposits
~8.6×
Trailing P/E
Subscriber tier
The full 10-section Investment Brief
5-year model · P/B & P/E · ROE return analysis · recommendation
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The most profitable bank in Tanzania — a leading retail and digital franchise with the country’s broadest branch and agent network — that posted record FY2025 profit of TZS 760bn (+17.5%) while growing assets 28%.

The analysis — key observations
  • Profit leadership. FY2025 profit after tax of TZS 760bn — the highest in the banking industry — up 17.5%, with EPS of TZS 1,519.
  • Balance-sheet momentum. Total assets up 28% to TZS 17.6tn, powered by 31% deposit growth to TZS 12.52tn — the fastest expansion among the majors.
  • Digital & retail reach. A leading mobile and agent-banking franchise gives NMB low-cost deposits and broad reach across the country.
  • Generous capital return. A total FY2025 dividend of TZS 610.15 per share — a high payout supported by record earnings.
Sector context — CY2025
Tanzania’s banking sector assets reached TZS 79.4tn and sector profit rose 21% to TZS 2.62tn in 2025 — with NMB the single most profitable institution in the industry.
FY2025 performance
+17.5%
Profit after tax → 760bn
+28%
Total assets → 17.6tn
+31%
Deposits → 12.52tn
1,519
EPS · TZS
610/sh
Dividend · TZS
610.15 total
#1
Industry profit rank
most profitable
Valuation context — TZS/share (illustrative, educational)
MethodIndicative range
Market price (May 26)~13,110
Trailing P/E on FY25 EPS~8.6×
Illustrative peer P/E 8–12×12,150–18,230

Illustrative valuation framing for education only — not a price target or recommendation. Trailing P/E uses the ~13,110 market price over FY25 EPS of 1,519; the peer-range row applies an illustrative 8–12× multiple and is shown only to frame context.

Market backdrop — Tanzanian banking & macro · CY2025
79.4 tn
Sector assets · TZS
2.62 tn
Sector profit · +21%
~6%
GDP growth
~3.3%
Inflation · stable macro
Growth & credit quality

Rapid balance-sheet expansion is a strength, but fast loan growth always warrants attention to underwriting through the cycle.

Deposit costs

A low-cost deposit base underpins margins; competition for deposits and rate moves are the key sensitivities.

Competition & regulation

Intense competition with CRDB and a complex regulatory backdrop — offset by NMB’s scale and digital lead.