Oct 19, 2017 Last Updated 2:13 PM, Oct 19, 2017

One of the country’s high street banks, National Bank of Malawi, is boasting of a MK14.4 Billion pre-tax profit in the first half of the year.

In an unaudited financial statement for the first six months of 2017, the company reveals it has made the said profit which is an improvement to what was made during the same period in 2016.

During the first half of 2016 the bank post an MK11.8 Billion profit before tax, representing a 22 percent growth in its profits.

According to the company’s Chief Executive Officer Mcfussy Kawawa the performance is due to an improved operating environment for business in the year.

Much as this is good news to the shareholders of the company, the public is still complaining that banks continue to make superficial profits while the general populous is challenged by the struggling economy.

Kawawa is optimistic that the bank’s performance will improve further, owing to changes in the national economic landscape.

Meanwhile the bank’s performance is also leaving positive results on the stock exchange, with a share price gain having been registered in the just ended week.

National Bank of Malawi is a commercial bank. The bank is one of the eleven banks licensed by the Reserve Bank of Malawi, the national banking regulator.

NBM is a large financial services institution, serving the banking needs of the people and businesses in Malawi.

 

As of December 2009, the bank's total assets were in excess of US$495 million, with shareholder's equity of about US$78 million.

One of the country’s high street banks, National Bank of Malawi, is boasting of a MK14.4 Billion pre-tax profit in the first half of the year.

In an unaudited financial statement for the first six months of 2017, the company reveals it has made the said profit which is an improvement to what was made during the same period in 2016.

During the first half of 2016 the bank post an MK11.8 Billion profit before tax, representing a 22 percent growth in its profits.

According to the company’s Chief Executive Officer Mcfussy Kawawa the performance is due to an improved operating environment for business in the year.

Much as this is good news to the shareholders of the company, the public is still complaining that banks continue to make superficial profits while the general populous is challenged by the struggling economy.

Kawawa is optimistic that the bank’s performance will improve further, owing to changes in the national economic landscape.

Meanwhile the bank’s performance is also leaving positive results on the stock exchange, with a share price gain having been registered in the just ended week.

Malawi’s largest conglomerate, Press Corp, is to announce its new strategy, a week after hiring a new Group CEO.

NBM Profits Up

The National Bank of Malawi is revealing that its financial performance for the half year period has to a great extent been affected by the merger with Indebank.

The National Bank of Malawi is revealing that its financial performance for the half year period has to a great extent been affected by the merger with Indebank.

One of Malawi’s top companies, Press Corporation Limited (PCL), which was recently embroiled in a scandal, is gradually going through a restructuring process.

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