National Bank of Malawi (NBM) has announced a post-tax profit of K22.4 billion for the year ended December 31 2020.

The above was announced at the bank’s 49th Annual General Meeting, by NBM plc Board Chairman George Partridge outlined that non-interest income grew by 17% while net interest and investment income grew by 9%. Net revenue grew by 12%.

Forecasting the outlook for this year, Partridge said the future remains mixed as the economy is projected to grow by 3.5%, attributed to improved operating and macroeconomic environment due to a manageable Covid pandemic as a result of availability of vaccines through-out the world.