Tags: NBS Bank

Goodall says women are resource for growth

Minister of Finance, Economic Planning and Development Goodall Gondwe has commended NBS Bank for introducing a banking facility that targets low-income earners, especially women, saying such groups of people are economic drivers. Gondwe said this on Wednesday in Blantyre at the launch of the bank’s mobile savings account named Banki Pafupi designed for low-income people…

Four Malawian banks fail to meet Basel II capital

Four of the Malawi’s 11 commercial banks were by June 30 yet to meet the new capital requirement of $5 million (about K2 billion) under Basel II, the Reserve Bank of Malawi (RBM) has said, clearly signalling their capital inadequacy. The second of Basel Accords issued by the Basel Committee on Bank Regulations, rolled out…

Banks ready to support Mtalimanja rice project

Mtalimanja Rice Project chief executive officer Richard Kamchacha has disclosed that three commercial banks have shown interest to fund the organisation after being impressed with the progress so far made at the rice scheme. According to Kamchacha, the banks that have shown interest include National Bank and Standard Bank while Malawi Savings Bank (MSB) already…

NBS Bank profit up 163%, recommends no dividend

NBS Bank after-tax profit for the year ended December 31 2013 jumped 163 percent to K1.9 billion, according published extracts of consolidated results. The Malawi Stock Exchange (MSE)-listed bank and its subsidiary NBS Forex Bureau Limited reported profit before tax of K2.9 billion during the year, representing 92 percent growth rate while total gross income…