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Thursday, August 18, 2022

NBS Bank Reports MK 7.69 Billion Profits

By Mayamiko Phiri, Contributor

NBS Bank Plc has posted an after tax profits of K7.69 billion for the year ended 31 December 2021, compared to the profits after tax of K7.04 billion reported in 2020.This translates to 9 percentage growth from the previous financial year.

In line with good performance of the bank, the board of directors has resolved to pay out dividend of about 4 billion in total for all the shareholders of the bank representing K1.35 per share.

Speaking during the bank’s Annual general meeting in Blantyre on Tuesday, Financial and Audit Committee Chairperson for the bank Dr. Matthews Mtumbuka express satisfaction with the gain the bank has achieved in the year ended 31 December 2021.

Mtumbuka further said that the gains achieved are significant especially given the context of COVID – 19 pandemic which affected all aspects of life including the banking sector.

He also attributed the banks success to investing on digital transformation which enables the bank to do business much more effectively and efficiently.

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