The National Bank of Malawi (NBM) plc has credited its impressive financial performance to robust growth in customer deposits, expansion of its asset base, and enhanced liability management, despite persistent economic challenges.
At the Bank’s Investors Forum held in Blantyre earlier this week, NBM plc announced a record after-tax profit of K100 billion for the year ending 2024, marking a significant rise from K72 billion posted in 2023.
Masauko Katsala, Chief Operations Officer (COO) said the results reflect a resilient business model supported by customer trust and a solid operational strategy.
“Our growth in profitability came because we did very well in deposit mobilisation and saw significant growth in both assets and liabilities. This enabled us to generate strong returns from our financial operations. We are pleased to deliver a solid return on investment for our stakeholders,” said Katsala.
He acknowledged that the gains were made in a difficult economic environment, noting the Bank’s efforts to stay ahead through responsive management.
“We are operating in a very challenging environment, and as management, we are doing everything possible to navigate these conditions. We are happy that our performance has remained strong despite these challenges,” he added.
Katsala said the Bank remains optimistic about sustaining the growth trajectory, citing ongoing efforts to strengthen both its digital and physical infrastructure.
One investor at the forum, Jacquelline Kapyola, expressed satisfaction with the performance and optimism about the Bank’s ability to address past concerns.
“The performance is impressive, and we are expecting even more growth by year-end. We also hope issues like the Mo626 network glitches will be fully addressed going forward,” she said.
