Malawi Stock Exchange (MSE) – listed National Bank of Malawi (NBM) is optimistic to further grow its business amid challenges rocking the operating environment.
NBM General Manger, Harold Jiya, said this on Tuesday when the bank donated various items to Namikasi Secondary School in Blantyre.
The bank announced that it has posted a K19.15 billion profit for the year ending December 31 compared to K16.6 billion from the previous year, representing a profit jump of 15 percent.
According to Jiya, despite some challenges in the operating environment, there remains hope the bank will continue growing.
He said while business has been tough, with the economy coming from two bad years of poor agricultural output coupled with energy woes, the bank has remain resilient.
“National Bank is a resilient bank and we believe that we shall still achieve the performance above the inflation. But it could have been better,” Jiya said.
A statement of financial results the bank released recently shows that the bank achieved an overall growth of 19 percent in 2017.
Meanwhile, as part of its Corporate Social Responsibility, NBM donated various items worth K5 million to Namikasi Secondary School.
This follows destruction of property at the school where fire gutted part of the girls’ hostels in April this year.
According to Jiya, the bank values education as a pillar of economic development.
The bank helped build the hostels in November 2015.
Head teacher of Namikasi Secondary School, Samson Kasungu, said the donation is timely.
Today’s top business story: Top Commercial Banks In Malawi
- Poverty levels rise to 71.7% in 2023 – The Times Group - March 5, 2024
- World bank wants more women in procurement - March 5, 2024
- Expert hails government for new tax measures – The Times Group - March 5, 2024