
Shareholders of National Bank of Malawi (NBM) plc are celebrating a significant increase in their wealth after the bank’s market capitalization surpassed K2 trillion, making it the first company to achieve this milestone on the Malawi Stock Exchange (MSE).
The bank’s share price surged from K3,981.50 per share on Tuesday to K4,584.50 by the close of market trading on Thursday, resulting in a wealth increase of K603 per share for investors within one day. This represents a significant return on investment for shareholders, who have seen the bank’s market capitalization grow to K2.1 trillion.
Financial expert Richard Tembo praised the achievement, stating that the increased market capitalization signals heightened investor confidence in NBM plc. “The shares of National Bank plc are highly valuable and sought-after by investors, leading to an increase in share value. This is a clear indication that investors have confidence in the bank’s prospects.”
Tembo added that the increase in market capitalization will also have a positive impact on the overall performance of the MSE. “This achievement by NBM plc will likely have a ripple effect on the entire market, as it demonstrates the potential for growth and returns on investment in the Malawian market.”
NBM plc Chief Executive Officer Harold Jiya expressed his pleasure at the milestone, attributing it to the bank’s commitment to providing excellent services to its customers. “This accomplishment reflects the trust and confidence our stakeholders and investors have placed in our medium-term growth strategy. We remain committed to investing in resources that will enable us to continue delivering quality banking services.”
Jiya thanked customers and the people of Malawi for their continued trust and support, emphasizing the bank’s focus on leveraging digital platforms to offer greater convenience and value to its customers.
The achievement is a testament to NBM plc’s resilience and commitment to delivering value to its shareholders. As the bank continues to grow and expand its services, shareholders can expect to reap even more benefits from their investment.