NBM plc profit hits K100 billion mark

National Bank of Malawi (NBM) plc has announced an increase of its profit-after-tax to K101.71 billion, marking a 41% increase for the year ending 2024, from the K71.96 billion reported in 2023.

In the just-released financial statement signed by Chief Executive Officer (CEO) Harold Jiya, Board Chairperson Jimmy Lipunga, Director Mcleod Nkhoma, and Chief Financial Officer (CFO) Daniel Jere, NBM plc’s results were largely driven by growth in customer deposits, which fueled an increase in the loan book and fixed-income securities.