NMB’s net profit grows by 4pc in Q1

Dar es Salaam. The National Microfinance Bank Plc. (NMB) has posted a 4 per cent increase in net profit, the bank’s financial statements show.

The bank’s profit after tax (PAT) for the three months ending March 31, 2017 grew to Sh40.9 billion from Sh39.3 billion recorded for the same period in 2016.

Managing Director, Ms Ineke Bussemaker attributed the performance to improved operating income and increased recoveries of previously non-performing loans.

Ms Bussemaker said that total operating income rose by 4.6 per cent from Sh56.1 billion recorded at the end of the first quarter in 2016 to Sh58.7 billion in 2017.

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