The National Bank of Commerce (NBC) has opened a private banking facility in Dar es Salaam to access special banking services.

The facility will enable NBC affluent customers to access a range of products and services designed to meet their individual needs and benefit from easier access to credit facilities offered by the bank, according to IPP Media.

As a part of the new service, customers will need to have a minimum of Sh75 million in the bank account.

This move will help cater for the country’s growing economy, said IPP executive chairman Reginald Mengi.

NBC managing director Mizinga Melu said NBC, which has been in operation for 46 years, has vast experience of handling customers, and hence there is need to cope with emerging global technological changes.

Melu added that seven other centers would be established in other cities and municipal centres by end of 2014.

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By GlobalData

NBC head of retail services Mmoloki Legodu said that with this launch the bank aims to cater for the diverse financial needs of their customers, including their families, with exclusivity.

Through this service, customers will enjoy the attention of a dedicated relationship manager and use of modern centre to meet all banking needs, reported IPP Media.

Mengi has praised the NBC management for innovative products, catering for various categories of clients, when the country’s economy is growing at an exceptional rate.

"The need for tailor made services is evident. Organizations which succeed are usually those which adapt to constantly changing market dynamics by providing solutions for customers," Mengi added.

Edwin Mhina NBC marketing, communications and corporate affairs manager said that customers under this category of service would use their Automated Teller Machine (ATM) cards free for every transaction.

They will also enjoy a reduction on costs for sending money through telegraphic transfer to settle payments of imported goods.