In an analysis report released recently NBS bank announced an after tax profit of K1.699 billion, to which the bank has attributed to steps that were made, more than 2 years ago.For instance, the bank outlined a 5 year strategy, which included a new core banking system.
In 2017, strides continued as a partnership with rabobank was established, an initiative that saw Rabobank facilitating training for NBS Bank staff on the job and study tours to several entities of the Rabobank Group.
Rabobank head of banking advisory David Gerbrands said the partnership would help the bank become healthy and profitable. True enough, a year after the partnership, an impressive after tax profit was announced.
NBS launched a customer call centre, for convenient and fast means of working on customers queries/problems.
NBS Chief Executive Officer, Kwanele Ngwenya launched the Bancassurance product as means aiming at (among other things) addressing the insurance penetration gap in the country.
The product was formulated under three companies; NBS, Nico General and Nico Life. “These products have been priced to suit the pockets of Malawians from all walks of life” said Ngwenya, “We are able to offer competitive pricing because our insurers, Nico Life and Nico General, are the most experienced in this country and are attached to world class underwriters through group synergies”.
NBS Bank also launched an onboarding app and established Private Banking Suites.