{"id":61750,"date":"2024-07-12T12:32:09","date_gmt":"2024-07-12T12:32:09","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets"},"modified":"2024-07-12T12:55:59","modified_gmt":"2024-07-12T12:55:59","slug":"new-national-bank-of-malawi-chief-sets-ambitious-targets","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets","title":{"rendered":"New National Bank of Malawi chief sets ambitious targets"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>New Chief Executive Officer for Malawi Stock Exchange-listed National Bank of Malawi (NBM) Harold Jiya has outlined plans to grow the bank\u2019s annual profitability to $100 million within the next four years.<\/p>\n

He unveiled the aspiration, which forms part of the bank\u2019s strategic plan, during his inaugural media engagement in Blantyre since he took over the mantle from McFussy Kawawa who retired last month.<\/p>\n

Among other things, according to Jiya, the bank eyes expanding its footprint to the regional market.<\/p>\n

Already, NBM has a majority stake in Tanzania-based Akbar Bank, which, Jiya said, is on a turn-around trajectory from years of loss-making.<\/p>\n

He said NBM has also moved into neighbouring Mozambique and Zambia where possible acquisitions and due diligence have already been done on some banks.<\/p>\n

Juya added that the bank projects to secure 12 percent of its targeted profitability for its existing and potential subsidiaries.<\/p>\n

\u201cWe are also interested in going to the region and expanding our reach to make sure that we are represented in four countries in the region.<\/p>\n

\u201cWe conducted a regional study to find out where it would get more value and we looked at where our customers do business and we noted that most of our customers do business with Tanzania, Mozambique and Zambia, so we are following where our customers go,\u201d he said.<\/p>\n

In his presentation, Jiya said the bank aspires to grow its customer base to two million by 2027<\/p>\n

On the other hand, he lamented challenges facing the economy, which he said have had a bearing on the banking sector\u2019s performance.<\/p>\n

Jiya, however, expressed optimism for continued business growth, saying the bank has systematic strategies to navigate the turbulence in place.<\/p>\n

In an interview yesterday, Minority Shareholders Association of Listed Companies General Secretary, Frank Harawa, rated the aspirations as ideal for growth and competition.<\/p>\n

\u201cI think it is a good thing for a listed company to have ambitions; I don\u2019t think it would be difficult for the bank to reach a $100 million profit mark.<\/p>\n

\u201cWith the ambition of going regional, it would be an ideal growth path and even in the best interest of the country. It is a good and welcome move but we have reminded them that Malawi remains a more viable space with the coming in of mining trends,\u201d Harawa said.<\/p>\n

For More News And Analysis About Malawi Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. New Chief Executive Officer for Malawi Stock Exchange-listed National Bank of Malawi (NBM) Harold Jiya has outlined plans to grow the bank\u2019s annual profitability to $100 million within the next four years. He unveiled the aspiration, which forms part of the bank\u2019s strategic plan, during his inaugural media engagement in Blantyre since […]<\/p>\n","protected":false},"author":84,"featured_media":61749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234],"class_list":["post-61750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-malawi"],"yoast_head":"\nNew National Bank of Malawi chief sets ambitious targets - Malawi<\/title>\n<meta name=\"description\" content=\"New Chief Executive Officer for Malawi Stock Exchange-listed National Bank of Malawi (NBM) Harold Jiya has outlined plan ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New National Bank of Malawi chief sets ambitious targets\" \/>\n<meta property=\"og:description\" content=\"New Chief Executive Officer for Malawi Stock Exchange-listed National Bank of Malawi (NBM) Harold Jiya has outlined plan ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-12T12:32:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-12T12:55:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/07\/sm_1720775932.130604.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New National Bank of Malawi chief sets ambitious targets\",\"datePublished\":\"2024-07-12T12:32:09+00:00\",\"dateModified\":\"2024-07-12T12:55:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets\"},\"wordCount\":405,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/07\/sm_1720775932.130604.jpg\",\"keywords\":[\"Malawi\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/new-national-bank-of-malawi-chief-sets-ambitious-targets\",\"name\":\"New National Bank of Malawi chief sets ambitious targets - 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