NBM plc eyes K98 billion 2024 profit
Malawi Stock Exchange-listed National Bank of Malawi (NBM) plc has projected a profit surge of up to 37% for the financial year ending December 31, 2024, reinforcing its position as one of Malawi’s most consistent financial performers.
In its trading statement issued in compliance with Malawi Stock Exchange requirements, NBM plc anticipates a consolidated profit after tax ranging between K92.97 billion and K98.25 billion, compared to the K71.96 billion reported in 2023. This represents a significant growth of 29% to 37%.
NBM plc’s Company Secretary, Zunzo Mitole, highlighted the Bank’s adherence to transparency and its strategic focus in the statement. “The figures are preliminary and based on internal assessments, as they have not yet been reviewed or audited by external auditors. The final audited financial statements are expected to be published within the required reporting period,” Mitole stated.
The Bank attributes the projected growth to strategic initiatives and operational efficiency, which have driven robust performance despite challenges in the broader economic environment.
During the Bank’s Annual General Meeting earlier this year, Frank Harawa, General Secretary of the Minority Shareholders Association, praised NBM plc for its growth-oriented approach, noting that the institution has consistently delivered significant profits over the years.
The Bank reaffirmed its commitment to shareholders, promising to release the audited consolidated and separate financial statements for the year ending December 31, 2024, within the stipulated timeframe. The forthcoming financial report is expected to offer detailed insights into the Bank’s continued success and growth trajectory.
NBM plc’s announcement of record profits reflects its resilience and adaptability in navigating Malawi’s dynamic financial landscape while reinforcing its commitment to delivering value to stakeholders.
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