The Malawi Stock Exchange closed on a high note today as National Bank of Malawi (NBM) saw its share price soar by 14.81% to MWK 4,571.07, propelling the bank’s market valuation to an impressive MWK 2.13 trillion. This significant jump cements NBM’s position as one of the most valuable companies on the exchange.
This comes a few weeks after the bank released its trading statement for the year ending 31st December 2024, in which the bank projected a profit after tax increase between 29% to 37% of MK 92.97 billion to MK98.25 billion, compared to the MWK 71.96 billion reported for FY2023.
“Our plan is for this bank to deliver a 100 million US Dollars profit-after tax by 2027 and to be the number one digital bank in the country. We aim to expand our reach into the region, ensuring representation in four countries and exceeding two million customers.” said the bank’ CEO Harold Jiya
For investors, NBM’s expected profit growth and today’s market valuation surge present an optimistic outlook. With the full audited financial results for FY2024 expected in the coming months, shareholders are poised to benefit from the bank’s continued financial strength and consistent dividend payouts.
Stay tuned to Investas Insights for detailed market updates and in-depth financial analysis.
