Email a copy of 'National Bank of Malawi posts K19 billion profit' to a friend
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Email a copy of 'National Bank of Malawi posts K19 billion profit' to a friend
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Mzuzu Police Station has recovered K6 million worth household properties which are suspected to have been stolen fromHilltop and Masasa...
With all these massive profits we will soon hear of a rise in bank charges to “defray an increase in operational costs” and by the way, they don’t even care to inform their clients in advance. High time Financial regulators in the country intervened on this rip-off industry. Don’t be surprised when a K100.million is reported next financial year.
What are the benefits of ordinary customers who bank with the National Bank from this huge profit? Will the bank reward ordinary customers with huge interests in their bank accounts? It would be very unfair to pay dividends to shareholders without sharing the profits with ordinary customers who deposited money into the bank and kept positive bank credits during the reporting period. We need fairness in the sharing of these benefits by ensuring that ordinary customers are also rewarded for investing their hard-earned money in the National Bank, the pride of the nation as it is known. Otherwise, it will… Read more »
National Bank needs to go global. There is a huge market in Mocambique and some neighbouring countries. It could benefit by straying out of its comfort zone. The Board and its management should seriously consider doing this sooner than later.
The prince of thieve is stealing from the poor! It is indeed a miracle to steal billions from the already marginalized people!! I like the way you have put it and it is indeed a demonstration of remarkable resilience in stealing in an adverse environment!! Its an adverse environment because over 80% live on less than a dollar a day, and to accumulate that much ndi lusoooooooooooo and you deserve 2 points and very soon timva kuti you are called to receive a gold medal from satan!!! Anthu oyipa inuuuuuuuuuuuuuuuuuuuuuuuuu, mutanganidwilanji kudziunjikira chuma chonchi kumalanda anthu ovutika? Where on earth… Read more »
Thieves preying on poor Malawians. Unfortunately the Central Bank is just watching with no action
Profits due to high interest rates on loans imposed on poor Malawians. It’s much better to take a loan from an outside bank only that not everyone has access to that. Malawi banks are the worst when it comes to stealing from poor people.
These astronomical profits are made up by too numerous hidden costs, abnormal bank charges and penalties suffered by millions of unsuspecting low incomed customers too blind to realize how much money they are being ripped off. RBM is too powerless to regulate the banking industry as customers of Malawi banks get poorer
It saddens us when a local bank such as NB milks the poor with very high interest rate and boasts of high profit. Their rates are equal to the interest rate of loan sharks “mwala ku mwala”. Wealth can be distributed if interest rates were low and the poor had access to soft loans. This will push the poor to Islamic Bank which charges no interest because high interest is morally wrong.
Its high time you start investing those supernormal profits in other investments or rather transform yourselves into a multi-national financial institution.
When shall we have a malawian based bank operating in south africa, botswana or kenya?
Think Global guys and face the real competition rather than milking too docile malawians