By Shaffie A Mtambo
BLANTYRE-(MaraviPost)-NBS Bank has announced a significant increase in profit for the 2024 financial year, ending December 31.
The bank’s profit soared to MK72.4 billion, a staggering 145% increase from the MK29.4 billion recorded in the previous year.
NBS Bank’s Chief Executive Officer, Temwani Simwaka, described the results as a positive outcome, highlighting the bank’s continued investments in food and agribusiness, corporate and investment banking, and innovation.
The bank’s stakeholders gathered in Blantyre to discuss the results and the future prospects of the bank.
The event provided an opportunity for the bank to engage with its stakeholders and share its vision for continued growth and development.
NBS Bank’s investment in food and agribusiness has been a key driver of its growth.
The bank’s commitment to supporting the agricultural sector has helped to increase food production and security in Malawi.
The bank’s corporate and investment banking division has also played a significant role in its growth.
By providing innovative financial solutions to corporate clients, NBS Bank has been able to increase its revenue and expand its customer base.
Innovation has been at the heart of NBS Bank’s growth strategy.
The bank has been investing in digital banking solutions to improve customer experience and increase efficiency.
