Key Business Points
- Nico Holdings plc achieved a record profit after tax of K323.5 billion in 2025, a 141% increase driven by banking and life insurance growth
- NBS Bank and Nico Life Insurance both doubled their profits, with NBS Bank reaching K150.4 billion and Nico Life K155.6 billion
- The group is expanding asset management and pension services to sustain long-term growth despite Malawi’s economic challenges
Nico Holdings plc, one of Malawi’s largest conglomerates, has reported a record profit after tax of K323.5 billion for the year ended December 31, 2025, representing a 141.3 percent increase from K134.4 billion in 2024.
The group’s preliminary financial statement shows revenue surged by 74 percent to K918.5 billion, driven largely by strong performances in banking and life insurance businesses. Profit attributable to shareholders of the parent company rose to K167.8 billion from K72.0 billion, while dividends doubled to K41.8 billion.
NBS Bank plc, the group’s banking subsidiary, delivered a profit after tax of K150.4 billion, up 106 percent from K73.0 billion in 2024. This growth was supported by an increase in customer deposits and strong non-interest income. Nico Life Insurance also posted a sharp rise in profitability, recording K155.6 billion compared to K44.9 billion the previous year.
Other subsidiaries, including those in general insurance, asset management, pension administration and technology services sectors, also registered growth in profit during the period.
Nico Group Chief Executive Officer Vizenge Kumwenda said the performance reflected resilience and strategic execution despite a challenging macroeconomic environment. "We operated in a year marked by foreign exchange shortages, high inflation and supply disruptions, yet our diversified portfolio and disciplined management enabled us to deliver exceptional results," Kumwenda said.
Looking ahead, Kumwenda noted that the group remains focused on consolidating gains in banking and insurance while expanding asset management and pension services to sustain growth. "Our strategic investments in digital platforms and our focus on customer-centric products will position us well for continued success in 2026 and beyond," he added.
Nico Group Board Chairperson Elias Ngalande said the results underscored the group’s commitment to shareholder value. "Despite the challenging market conditions, our performance demonstrates that sound governance and operational discipline can yield strong returns," Ngalande said.
The strong financial performance comes at a time when Malawi’s economy continues to face pressure from exchange rate volatility and inflationary trends. Nico Holdings’ results suggest that well-diversified financial services groups can weather economic headwinds while capitalizing on growth opportunities.
For Malawian business owners and entrepreneurs, the performance of Nico Holdings points to the resilience of financial services and the potential opportunities in the insurance and asset management sectors. The group’s success in navigating a difficult year demonstrates that disciplined management and product innovation can deliver results even in uncertain times.
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