The African Business magazine has named National Bank of Malawi (NBM) among the Top 25 Most Admired Financial Services Brands on the continent.
The financial brands awards are part of the magazine’s Top 100 Most Admired Brands awards which are presented every year to outstanding companies on the continent.
In the 2015 awards announced in the magazine’s special edited for November 2015, NBM has been ranked 15 on the list, which is topped by Nigeria’s First Bank, and is the only institution in Malawi that has made it on the list.
It is also one of the only three banks outside of South Africa in southern Africa that have made it into the group.
Two banks from Mozambique and one bank from DRC are also on the list. South African has three banks on the rankings.
NBM corporate affairs manager Anne Magola, said the ranking demonstrates that although the bank only has operations in Malawi, it is of international standard and competes well even with international brands.
African Business magazine states in its editorial that the rankings are based on research which measured consumer perception on particular institutions.
“They are based on consumer-led rather than financial-led valuation,” reads the magazine in part.