National Bank of Malawi (NBM) Plc continues its remarkable run on the Malawi Stock Exchange, gaining 7.63% today to close at MWK 4,928.05. This follows a previous price surge where the bank’s share price soared over 14.81% in the previous week pushing its market valuation to an impressive MWK 2.13 trillion.
These movements come in weeks after release of NBM’s trading statement, which projected a profit after tax increase of between 29% and 37%, translating to MK92.97 billion to MK98.25 billion for FY2024, compared to MK71.96 billion reported in FY2023. The promising forecast has undoubtedly reignited investor confidence, positioning the bank as a strong performer on the bourse.
