Translating to a 15% profit increase Nico Holdings plc has registered a profit after tax of MK12.7 billion compared to  from MK 11 billion.

During Nico’s 49th annual general meeting Nico Holdings interim chairman Gaffer Hassam acknowledged that  Financial performance of the group in 2018 was satisfactory despite an ever changing regulatory environment and amidst increasing competition in the financial services industry.

Figures show that he group also registered growth in revenue of 137 billion compared to Mk134 billion in 2017. Total profit for the year grew to MK13 billion from MK12 billion in 2017, as board of directors declared a final dividend of MK313 million representing 30 tambala per share.

Nico Holdings owns NBS Bank, Nico General Insurance, Nico Life Insurance, Nico Technologies and Nico Asset Managers Limited as well as footprints in Zambia. Nico Holdings Interim Board Chairperson, Gaffar Hassam, revealed that his firm is offering board of director positions to minority shareholders who are valuable to the to the company.