By Burnett Munthali
NBS Bank has announced a record-breaking profit of K72.4 billion for the 2024 financial year, which ended on December 31.
This figure reflects an impressive 145% increase compared to the K29.4 billion the bank posted in the previous financial year.
The outstanding financial results were revealed during a stakeholders’ engagement event held today in Blantyre.
Speaking during the event, the bank’s Chief Executive Officer, Temwani Simwaka, attributed the strong performance to strategic investments across several key sectors.
Simwaka highlighted that the bank has continued to channel resources into areas such as food and agribusiness, corporate and investment banking, and innovation.
He described the results as a positive outcome of NBS Bank’s focused approach and commitment to growth, even in a challenging economic environment.
The remarkable increase in profits signals the bank’s growing strength in the financial sector and reaffirms its position as one of Malawi’s top-performing financial institutions.
Simwaka further emphasized that the bank remains committed to supporting national development goals through sustainable investments and customer-centric solutions.
The financial achievement also reflects NBS Bank’s dedication to creating long-term value for shareholders while contributing to Malawi’s broader economic transformation.
