The National Bank of Malawi (NBM) plc says its strong performance is rooted in the growth of customer deposits, expansion of assets, and improved liability management, despite prevailing economic pressures.
During its Investors Forum held on Tuesday in Blantyre, the Bank announced an after-tax profit of K100 billion for the year ending 2024, up from K72 billion in 2023.
Speaking at the event, Chief Operations Officer (COO) Masauko Katsala 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.
“Our growth in profitability came because we did very well in deposit mobilisation and saw significant growth in both assets and liabilities.”
Masauko Katsala
NBM Chief Operations Officer
