By Benjamin Maona, contributor:
Malawi Stock Exchange-listed National Bank of Malawi (NBM) plc has been ranked by France-based English-language quarterly magazine, Africa Report, among top performing financial services institutions in the region.
The Media Group, which also publishes a monthly magazine called Jeune Afrique, has ranked NBM plc 20th among the 200 African Institutions which has South Africa’s Capitec Bank on top.
According to the methodology used, the ranking composed criteria such as profitability, liquidity, solvency, and size.
“A weight is assigned to each to give a score out of 100. Each criteria itself consists of various indicators to which we have assigned a specific weight. In total, around 20 indicators were used”.
“If a dimension is missing for a group due to insufficient data, a penalty is applied. When two or more indicators are missing, the bank is not ranked,” reads the methodology.
NBM plc Marketing and Corporate Affairs ManagerAkossa Hiwa said the recognition is a true indication of the impact made by the bank in multiple areas.
“We are honoured to be recognised alongside other players within our eco-system. As a bank, we commit to continue providing financial solutions that create value for the end-user,” Hiwa said.
In its five-year strategic plan from 2023 to 2027, NBM plc indicates plans to expand footprints to two other countries in the continent in addition to Malawi and Tanzania where it is operating.
