A comparative analysis chart by the Malawi Stock Exchange for the 2012 results posted by all the 11 commercial banks in the country shows that National Bank of Malawi remains the biggest bank by assets at K129.8 billion.
Through the asset base lines, National Bank is followed by Standard Bank at K118.1 billion then NBS Bank at K59.6 billion anf First Merchant Bank (FMB) at K53 billion.
State owned Malawi Savings Bank is one fifth position with assets worth K39.6 billion while FDH Bank, owned by local business mogul Thomson Mpinganjira, is on position 6 with an asset base of K24.2 billion.
Indebank has K20.5 billion followed by Nedbank at K12.7 billion then Ecobank K11.4 billion and surprisingly 9 month old CDH Investment Bank has K10.3 billion with the International Commercial Bank (ICB) coming last at K2.6 billion.
Interestingly in terms of profitability Standard Bank is on position one as it made a net profit of K7.9 billion with National Bank coming second at K7.5 billion profit.
FMB comes third with its K3.4 billion after tax earnings then FDH at K1 billion, MSB K968.9 billion while third bank by asset NBS only managed K726.4 million profit followed by Nedbank at K300 million.
Indebank earned K248.4 million, CDH Investment Bank K51.9 million, ICB K27.9 million and lasty Ecobank generated a profit of K5.6 million.
Reacting to the perfomances, National Bank of Malawi Chief Executive Office George Partridge said it was good to have a vibrant banking sector as it is the backbone of any economy.
“Profitability of banks in any economy is an indicator of stability since shaky performances by banks can bring economies down as we have seen elsewhere like Greece even in the US during the 2008 economic crisis, so in our case as Malawi the results by banks do bring bring not only investor confidence but also trust by many government
partners that things are well,” said Partridge.
Standard Bank Head of Marketing, Chimwemwe Matonga said it was exciting that the bank is now the biggest in term of profitability.
“Statistics are speaking for themselves, we are now the leading bank in Malawi,” said Matonga.
Matonga said apart from profits, the bank also won several awards as the best bank in Malawi in 2012.
Of the 11 banks only 4 are listed on the Malawi Stock Exchange and these are NBS Bank, National Bank, FMB and Standard Bank.Follow and Subscribe Nyasa TV :