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Thursday 23 February 2017

INTERVIEW WITH EDWARD MARKS, MANAGING DIRECTOR OF NATIONAL BANK OF COMMERCE (NBC)


TanzaniaInvest had the pleasure of interviewing Edward Marks, Managing Director of NBC Bank Tanzania, the oldest bank in the country and the 3rd largest by assets and market share. 


Barclays Africa Group Limited holds 55%, while The government of Tanzania holds 30%, and the remaining 15% is held by the International Finance Corporation (IFC), a member of the World Bank Group. 

Prior to his appointment in May 2015, Marks served as Managing Director of Barclays Bank Egypt where he led the bank through a difficult operating environment. 

In this exclusive interview Marks discusses the challenges and opportunities in the Tanzanian banking sector and the role and strategy of NBC. 

TanzaniaInvest (TI): There are approximately 53 banks, not including other financial institutions in Tanzania in spite of limited banking penetration. The sector is currently affected by credit squeeze and increased Non-Performing Loans (NPLs). What is your assessment of the situation and how has NBC been performing in the midst of the overlying situation? 

 Edward Marks (EM): As a bank, we were quite proactive in Quarter 1 2016 and as a result we had one of the best liquidity position in the market in Quarter 3 and Quarter 4. 

This is because we predicted the incoming liquidity challenge and we bought bulk deposits, which tightened our budget but provided us with extra liquidity; this allowed us to be able to lend and execute large deals in those challenging conditions.

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