By Burnett Munthali
National Bank of Malawi Plc has reported a remarkable profit after tax of K100 billion for the year 2024.
This represents a significant increase compared to the K72 billion profit the bank made in 2023.
The announcement was made during a stakeholders’ engagement meeting held in Blantyre today.
Speaking at the event, the bank’s Chief Operating Officer, Masauko Katsala, expressed satisfaction with the bank’s performance.
He stated that the management was pleased that National Bank had outperformed other banks in the sector.
Katsala attributed the strong financial performance to a rise in customer deposits and the steady growth of the bank’s asset base.
He highlighted that the institution’s strategic focus on innovation and customer trust had also contributed to the financial success.
Meanwhile, one of the bank’s shareholders, Jacqueline Kapyola, commended the bank for its impressive results.
She noted that shareholders were generally satisfied with the direction the bank was taking.
However, Kapyola took the opportunity to raise a concern regarding the quality of digital services offered by the bank.
She pleaded with the bank’s leadership to address persistent network issues that users face when accessing services through the Mo626 platform.
Kapyola stressed that resolving such challenges would further enhance customer experience and boost public confidence in the bank’s digital offerings.
As the bank celebrates a record-breaking financial year, stakeholders remain optimistic that National Bank will continue to prioritize both profitability and service delivery.
