National Bank of Malawi plc has shown massive after profit drops, when comparing 2018 to 2017.
In its analysis report, both the bank and its subsidiaries have registered a profit drop. The bank made K15.3016 billion profit in 2018, a step down from K18.319 in 2018. The group made an after tax profit of K15.965 billion 2018 compared to K19.147 billion in 2017.
The above figures show a group profit drop of 16%, which has been attributed to subdued loan book.
In June 2019, NBM will pay a final dividend of K3.5 billion representing K16.06 per ordinary share.
In the analysis report, the Board of NBM foresees a stable macroeconomic environment resulting in increased commercial activity and therefore an improvement in the bank’s performance.