Key Points from the Chairman’s Statement
- The Group registered a profit after tax of K45.94b representing a 34% increase from K34.21b reported in 2021.
- Customer deposits increased by 45% from the previous year, while the loan book grew by 29% and investment in Fixed Income securities grew by 16%.
- The Malawi economy grew by 1.7% in 2022 while Average annual inflation increased to 22%.
- The Bank paid two interim dividends and recommends a final dividend amounting to K33.0b.
- The Bank will continue to leverage on its core strengths in order to adapt to the current operating environment.
About National Bank of Malawi (NBM.mw)
National Bank of Malawi (NBM) is a premier financial institution in Malawi, providing a wide range of banking services to individuals, corporations, and institutions. Established in 1971, the bank has grown to become a leading player in the financial industry in the country. With over 30 branches and more than 900 employees, NBM offers a comprehensive range of banking products and services, including personal and business banking, investment banking, and wealth management. The bank is committed to providing innovative solutions to meet the diverse needs of its customers, and its strong customer service ethos has earned it a reputation as a trusted and reliable financial partner.
Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.