Malawi Stock Exchange (MSE)- listed National Bank of Malawi (NBM) has said it harbours immediate plans to expand its footprints into other regional markets.<\/p>\n
The country\u2019s largest bank by assets said it is contented with the local market in the meantime.<\/p>\n
NBM Board Chairman, Georg e Partridge, told journalists on Friday on the sidelines of the bank\u2019s 46th annual general meeting that the bank is focusing on expanding its footing on the local market.<\/p>\n
He said the regional expansion plan would mainly depend on available opportunity in line with the bank\u2019s recently formulated five-year strategic plan.<\/p>\n
\u201cIf we find an opportunity in the region, definitely we would take up that opportunity. But it is not just for the sake of expanding and an eagle trip into the region, we want to make money for our shareholders. We are in business,\u201d Partridge said.<\/p>\n
He said the bank is still exploring the country\u2019s market.<\/p>\n
The number of people accessing bank services in the country remains low compared to those in the region.<\/p>\n
According to Partridge, the bank has intensified efforts to play an effective role in the national financial inclusion drive.<\/p>\n
\u201cWe also have a lot of work to do to expand our own business here in Malawi. But if an opportunity arises outside the country, definitely, we would take it up,\u201d Partridge said.<\/p>\n
NBM registered a 15 percent growth in the group profit after tax, from K16.6 billion in 2016 to K19.5 billion in the year under review.<\/p>\n
The bank also reported an overall growth of 19 percent in the statement of financial position.<\/p>\n","protected":false},"excerpt":{"rendered":"
Malawi Stock Exchange (MSE)- listed National Bank of Malawi (NBM) has said it harbours immediate plans to expand its footprints into other regional markets. The country\u2019s largest bank by assets said it is contented with the local market in the meantime. NBM Board Chairman, Georg e Partridge, told journalists on Friday on the sidelines of […]<\/p>\n","protected":false},"author":3,"featured_media":66650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-66872","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\/66872","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=66872"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/66872\/revisions"}],"predecessor-version":[{"id":66876,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/66872\/revisions\/66876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/66650"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=66872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=66872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=66872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}