National Bank of Malawi has registered a group profit after tax

of MK9.1 billion, which an 7% increase from MK8.5 billion registered in June 2018.

A half year rear company analysis report by Alliance Stockbrokers Limited has shown that Income increased from MK30 billion recorded in June 2018 to MK34 billion in 2019 with net interest income increasing by 14%. “Income increased from MK30 billion recorded in June 2018 to MK34 billion in 2019 with net interest income increasing by 14%” says part of the report.

Figures show that expenses grew by 11% taking into account costs relating to staff rationalization program which amounted to MK812 million. On the other hand, the bank has a positive outlook for the rest of the year, as it expects continuing economic stability and economic growth of 5% in 2019 which will result in increased commercial activity and therefore an improvement in the bank’s performance through its ability to leverage on its strategy and core strengths to address challenges and exploit opportunities in the market. “The bank is expected to deliver satisfactory results in the second half of 2019.” says the statement.