company background image

NMB BankDAR:NMB Stock Report

Market Cap







26 Oct, 2021


Company Financials +
NMB fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance5/6
Financial Health5/6

NMB Overview

NMB Bank Plc provides various banking products and services to individuals, small to medium sized businesses, and corporate clients in Tanzania, Europe, the United States, and internationally.

Price History & Performance

Summary of all time highs, changes and price drops for NMB Bank
Historical stock prices
Current Share PriceTSh2,140.00
52 Week HighTSh2,140.00
52 Week LowTSh2,340.00
1 Month Change-8.55%
3 Month Change-8.55%
1 Year Change-8.55%
3 Year Change-22.18%
5 Year Change-22.18%
Change since IPO154.76%

Recent News & Updates

Shareholder Returns

NMBTZ BanksTZ Market

Return vs Industry: NMB underperformed the TZ Banks industry which returned 24.9% over the past year.

Return vs Market: NMB underperformed the TZ Market which returned 3.4% over the past year.

Price Volatility

Is NMB's price volatile compared to industry and market?
NMB volatility
NMB Beta-0.022
Industry Beta0.68
Market Beta1

Stable Share Price: NMB is less volatile than 75% of TZ stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: NMB's weekly volatility (2%) has been stable over the past year.

About the Company

19973,473Ruth Zaipuna

NMB Bank Plc provides various banking products and services to individuals, small to medium sized businesses, and corporate clients in Tanzania, Europe, the United States, and internationally. The company operates through Wholesale Banking, Retail Banking, Treasury, and UJVC segments. It offers personal, wisdom, current, bonus, savings, business, time deposit, current, and executive accounts, as well as fixed deposits, Kilimo accounts, Fanikiwa accounts, Chap accounts, and Chipukizi accounts.

NMB Bank Fundamentals Summary

How do NMB Bank's earnings and revenue compare to its market cap?
NMB fundamental statistics
Market CapTSh1.07t
Earnings (TTM)TSh249.63b
Revenue (TTM)TSh789.84b


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NMB income statement (TTM)
Cost of RevenueTSh0
Gross ProfitTSh789.84b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date


Earnings per share (EPS)499.26
Gross Margin100.00%
Net Profit Margin31.60%
Debt/Equity Ratio21.1%

How did NMB perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is NMB Bank undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: NMB (TZS2140) is trading above our estimate of fair value (TZS1586.25)

Significantly Below Fair Value: NMB is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: NMB's PE Ratio (4.3x) is in line with the TZ Banks industry average.

PE vs Market: NMB is good value based on its PE Ratio (4.3x) compared to the TZ market (10.8x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NMB's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: NMB is overvalued based on its PB Ratio (0.9x) compared to the TZ Banks industry average (0.8x).

Future Growth

How is NMB Bank forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?


Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if NMB's forecast earnings growth is above the savings rate (9.1%).

Earnings vs Market: Insufficient data to determine if NMB's earnings are forecast to grow faster than the TZ market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NMB's revenue (14.2% per year) is forecast to grow faster than the TZ market (7.1% per year).

High Growth Revenue: NMB's revenue (14.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NMB's Return on Equity is forecast to be high in 3 years time (23.8%)

Past Performance

How has NMB Bank performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NMB has a high level of non-cash earnings.

Growing Profit Margin: NMB's current net profit margins (31.6%) are higher than last year (26.7%).

Past Earnings Growth Analysis

Earnings Trend: NMB's earnings have grown by 17.3% per year over the past 5 years.

Accelerating Growth: NMB's earnings growth over the past year (37.2%) exceeds its 5-year average (17.3% per year).

Earnings vs Industry: NMB earnings growth over the past year (37.2%) exceeded the Banks industry 11%.

Return on Equity

High ROE: NMB's Return on Equity (20.9%) is considered high.

Financial Health

How is NMB Bank's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: NMB's Assets to Equity ratio (6.4x) is low.

Allowance for Bad Loans: NMB has a sufficient allowance for bad loans (112%).

Low Risk Liabilities: 92% of NMB's liabilities are made up of primarily low risk sources of funding.

Loan Level: NMB has an appropriate level of Loans to Assets ratio (56%).

Low Risk Deposits: NMB's Loans to Deposits ratio (72%) is appropriate.

Level of Bad Loans: NMB has a high level of bad loans (4.3%).


What is NMB Bank current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NMB's dividend (6.4%) is higher than the bottom 25% of dividend payers in the TZ market (1.97%).

High Dividend: NMB's dividend (6.4%) is low compared to the top 25% of dividend payers in the TZ market (8.2%).

Stability and Growth of Payments

Stable Dividend: NMB's dividend payments have been volatile in the past 10 years.

Growing Dividend: NMB's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.5%), NMB's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: NMB's dividends in 3 years are forecast to be well covered by earnings (33% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Ruth Zaipuna (47 yo)



Ms. Ruth Henry Zaipuna has been Chief Executive Officer at NMB Bank Plc since August 2020 and served as its Acting Chief Executive Officer since 2020 until August 2020. She was Acting Managing Director at...

Leadership Team

Experienced Management: NMB's management team is considered experienced (2.8 years average tenure).

Board Members

Experienced Board: NMB's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

NMB Bank Plc's employee growth, exchange listings and data sources

Key Information

  • Name: NMB Bank Plc
  • Ticker: NMB
  • Exchange: DAR
  • Founded: 1997
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: TSh1.070t
  • Shares outstanding: 500.00m
  • Website:

Number of Employees


  • NMB Bank Plc
  • Ohio/Ali Hassan Mwinyi Road
  • PO Box 9213
  • Dar es Salaam
  • Tanzania


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 15:01
End of Day Share Price2021/10/25 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.