National Bank of Malawi (NBM) Plc has been rated the best Bank in Malawi and Central Africa by the France-Based Media Group, Africa Report.
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 leading the list.
According to the methodology used in the ranking, which has been posted on their Africa Report Website, the ranking composed five criteria: 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”.
“For example, the profitability dimension includes, among other things, the net result ratio over total assets, liquidity includes the loan-to-deposit ratio, solvency includes the equity to total assets and size includes the total balance sheet. 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 Manager, Akossa Hiwa said the recognition is a true indication of the impact made by the Bank in multiple areas.
“We are honoured to be recognized 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 indicated that it plans to grow to two countries apart from Malawi and Tanzania where the Bank runs Akiba Commercial Bank.
Standard Bank and First Capital Bank (FCB) have been ranked 62 and 67 respectively.
FDH Bank and NBS Bank are positioned 87th and 124th respectively.
