NBS Bank PLC has announced a significant leap in profitability for the year ending 31 December 2024, projecting a profit after tax of between K68.6 billion and K72.5 billion.
This represents exceptional growth of between 133 percent and 146.6 percent compared to the K29.4 billion reported for the same period in 2023 by the ‘Caring Bank’.
In compliance with Malawi Stock Exchange (MSE) listing requirements, the bank issued a trading statement confirming a high degree of certainty regarding its financial performance for the year.
In the statement, Company Secretary, Marsha Machika, noted that the profit increase reflects the Bank’s robust operational strategies and strong 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,” said 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 encouraged shareholders and stakeholders to await the audited results for a comprehensive view of the Bank’s financial performance.
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