Mkurugenzi Mkuu wa Benki ya NBC apelekwa rikizo kupisha uchunguzi

NATIONAL BANK OF COMMERCE

                                                               PRESS RELEASE

Dar es Salaam July 20, 2012.

On 19^th July, The Board of Directors of the National Bank of Commerce (NBC) Limited announced that Mr. Lawrence Mafuru, the Managing Director of National Bank of Commerce has been requested and accepted to go on leave in order to allow investigations into some irregularities allegedly perpetrated at the Bank.

Chairman of the NBC Board of Directors Dr. Mussa J Assad said, “The Board of Directors of NBC has received allegations of some irregularities against NBC Executive Management. NBC is a reputable and trusted bank, for best practice and good governance a proper investigation has been initiated on this matter. The Board of Directors has therefore decided to put Mr. Lawrence Mafuru, the NBC Managing Director, on leave during the investigation period. This is expected to be completed shortly.”

He further added, “Please note, there is no presumption of guilt on Mr Mafuru or any other executive. Let me to assure you, that we have a very professional leadership team which operates and executes their duties with the highest level of integrity, with the sole purpose of serving our customers, both internal and external and meeting business objectives.”

Lawrence Mafuru said: “I am very supportive of the investigation into the allegations that have been raised against me by a whistle blower. My conscience is very clear and I hope that after this investigation our customers, shareholders, staff and the public at large will prove that the bank is managed and run in accordance with the best corporate governance standards”.

Editors Note;

NBC is one of the most represented retail bank in the country with 45 years experience in providing financial services. Apart from offering traditional banking services, NBC also prides itself with an expanded branch network and footprint. NBC has 53 branches, 287 Visa enabled ATMs, and over 233 Points of Sales strategically located throughout the country. NBC has employed over 1400 staff

For more information contact

Mwinda Kiula-Mfugale, Head of Marketing, Communications and Corporate Affairs: Mwinda.Kiulamfugale@nbctz.com