A Research Report Submitted in Partial/Fulfillment of the Requirement for the Award of a Masters degree of Business Administration in Corporate Management (MBA-CM) of Mzumbe University.This study aimed to assess the relationship between budgetary control and financial performance of financial institutions in Tanzania focusing on National microfinance bank (NMB) as a case study. The study objectives includes; ascertaining the relationship between budgetary planning and financial performance, to assess the link between budget monitoring and financial performance and ascertaining the relationship between budgetary participation and financial performance at NMB. Thereafter the study used various research methodologies. Purposive sampling technique was used to select 88 sample size of this study. Data collected through documentary review and questionnaires were analyzed using descriptive statistics and regression methods with the help of the computer software called Statistical Packages for Social Science (SPSS). Based on the data analyzed, findings showed that there was no any significant relationship between budget monitoring and financial performance (p=0.807). The study findings also proved there was no any significant relationship between budgetary participation and financial performance (p=0.728). However, these results found the existing significant relationship between budgetary planning and financial performance (0.000). This implies that budgetary planning have a great influence to the financial performance of the institution since having prior planning for resource allocation optimize its use and contribute to the financial performance of an institution. Based on the study findings, the study concluded that budgetary planning is an essential tool for budgetary control in financial institutions. Therefore financial institution are expected to prioritize budgetary planning as it is a key to budgetary control and hence to their performance. Based on the study findings and conclusions, the study therefore recommends that, the top management should involve all the employees especially those in the sections with direct effect (customer service department) to the performance of the institution so as to know their views and contribution to the budget.