NBS Bank projects K73 billion profit for 2024
NBS Bank plc has announced a significant leap in profitability for the year ending 31 December 2024, projecting a profit after tax between K68.6 billion and K72.5 billion.
This marks an exceptional growth of between 133% and 146.6% compared to the K29.4 billion reported for the same period in 2023 for the ‘Caring Bank’.
In compliance with the Malawi Stock Exchange (MSE) Listings Requirements, the Bank issued a Trading Statement confirming a high degree of certainty regarding its financial performance for the year.
In the statement, NBS Bank plc Company Secretary Marsha Machika stated that the profit increase reflects the Bank’s strong operational strategies and market performance throughout the reporting period.
“This remarkable growth underscores the strength of our business model and our commitment to delivering value for our shareholders. The financial projections are based on internal assessments and have not been audited or reviewed by the company’s external auditors. The Bank expects to publish its audited consolidated and separate financial statements for the year by 30 April 2025,” stated Machika.
The ‘Caring Bank’ continues to solidify its position as one of Malawi’s leading financial institutions, achieving milestones that demonstrate resilience and adaptability in a dynamic economic environment.
Machika further encourages shareholders and stakeholders to wait for the audited results for a comprehensive view of the Bank’s financial performance.
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