- NMB Bank will launch an enhanced mobile banking app for corporate and individual clients in Q2 2025 to improve customer experience and drive fintech innovation
- Group's fintech subsidiary, XPlug Solutions, is expanding across Africa, developing fintech systems and mobile banking solutions
- For Q1 2025, NMB Group reported operating income of ZWG 396 million, with 64% from digital platform fees
Harare-NMB Bank is set to launch an enhanced mobile banking application for corporate and individual clients in the second quarter of 2025, aiming to elevate customer experience and drive fintech innovation, according to the group's latest trading update.
The app will streamline transactions and meet the rising demand for digital banking, leveraging innovative technology and diversified growth strategies.
"As the Group continues on its digital drive, there are a number of projects in the pipeline aimed at enhancing transactional platforms and elevating customer experience,’’ reads the trading update.
The app will simplify transactions, enhance accessibility, and deliver a seamless user experience.
This initiative aligns with Africa's projected 1.4 billion mobile connections by 2025, tapping into the region's growing demand for digital banking.
NMB Group's fintech subsidiary, XPlug Solutions, is also expanding its influence across Africa, developing fintech operating systems, Robotic Process Automation (RPA), mobile banking solutions, and custom software for medium to large financial institutions.
Operating in Tanzania, Zambia, Mozambique, and Zimbabwe, XPlug establishes itself as a regional fintech leader.
Its projects complement the mobile banking app, creating an integrated digital ecosystem that boosts efficiency and scalability for the Group and its clients.
Beyond its digital focus, NMB Group's property subsidiary has completed a new cluster home development, now available for sale.
This project addresses the rising demand for urban housing, fuelled by population growth and increasing disposable incomes.
The group is diversifying into real estate to reduce reliance on financial services, fostering a balanced portfolio that enhances resilience in a volatile economic environment.
For the three months ended March 31, 2025, NMB Group generated an operating income of ZWG 396 million, with 64% from fee and commission income, primarily through digital platforms.
Net interest income reached ZWG 141 million, and profit after tax stood at ZWG 56 million, reflecting a strong start to the year.
Total assets increased by 5% from December 2024 to ZWG 7.5 billion, driven by disciplined balance sheet management.
‘’Management continues to focus on prudent lending practices and careful loan book management while pursuing growth in lending.’’
To fuel its growth, NMB Bank is finalising over US$70 million in external credit lines.
This funding, nearing completion, will expand lending to productive sectors such as agriculture, manufacturing, and infrastructure.
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