Figures in the The Reserve Bank of Malawi (RBM) annual financial statement shows that the central bank posted a K57 billion profit, from K19.4 billion registered in the previous year.

The report, signed by RBM Governor Dalitso Kabambe and chairperson of the central bank’s audit committee Maria Msiska, says that more growth was seen in Treasury Notes, posted at K113.2 billion, balances with foreign banks at K83.3 billion and cash equivalent at K18.2 billion.

The central bank’s Governor had a skeptic outlook for this year’s performance, which may be hindered by the corona virus outbreak. Considering that the outbreak will negatively affect commercial banks in the country, RBM resolved to cut the Liquidity Reserve Requirement (LRR) on domestic deposits by 125 basis points to 3.75% from 5.0%, therefore increasing all commercial banks’ liquidity by K12 billion.