Malawi Stock Exchange listed NBS Bank has rated 2016 a mixed bag of successes and challenges for the bank.<\/p>\n
But the bank remains upbeat for a positive outlook in the year coming premising its optimism on good rains and the recent policy rate cut by the Reserve Bank of Malawi (RBM), among others.<\/p>\n
Addressing clients at a cocktail the bank held in Blantyre Thursday night, NBS Chief Executive Officer, Benadetta Mandoloma, said prevailing macroeconomic challenges affected the operations of the bank.<\/p>\n
She cited high inflation, interest and unemployment rates and low returns from tobacco sales among major challenges.<\/p>\n
\u201cThese obvious negative variances in the macroeconomic fundamentals have affected all industries in various degrees,\u201d Mandoloma said.<\/p>\n
She, however, expressed optimism for a possible recovery in the short to medium terms.<\/p>\n
Mandoloma said the recent reduction in the policy rate coupled with new fiscal policies being implemented by government, there are strong indicators of a potential turn around in the economy\u2019s fortunes.<\/p>\n
\u201cAll things being equal, this will translate into new investments, revived industries and increased exports. As NBS Bank, we are prepared to play a key role in working with clients as well as government to achieve this fast,\u201d she said.<\/p>\n
Among others, Mandoloma also touted the bank\u2019s efforts to remain elevant on the market in the year ending by investing in both human capital and infrastructure to meet clients\u2019 demands.<\/p>\n
The bank has in the year also invested in new banking platforms for ease of operations according to Mandoloma.<\/p>\n
\u201cApart from investments in brick and mortar, our robust internet services offers convenience to our customers which in turn promotes optimum operational efficiency,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Malawi Stock Exchange listed NBS Bank has rated 2016 a mixed bag of successes and challenges for the bank. But the bank remains upbeat for a positive outlook in the year coming premising its optimism on good rains and the recent policy rate cut by the Reserve Bank of Malawi (RBM), among others. Addressing clients […]<\/p>\n","protected":false},"author":3,"featured_media":37584,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-37581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/37581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=37581"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/37581\/revisions"}],"predecessor-version":[{"id":37585,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/37581\/revisions\/37585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/37584"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=37581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=37581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=37581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}