The Head of Cards and e-Banking William Kaunda making a presentation on the NBM Visa Credit Cards.

Recently, National Bank of Malawi (NBM) launched its NBM Credit Card, adding on the market some of its innovations in the banking sector. Our Reporter William Kumwembe caught up with NBM Head of Cards & e-Banking, William Kaunda, to explain more on the latest innovation from the bank. Excerpts;

Handing over of power: The outgoing Chairman Dr M A P Chikaonda and incoming chairman Dr G P Partridge

Handing over of power: The outgoing Chairman Dr M A P Chikaonda and
incoming chairman Dr G P Partridge

THE OPERATING ENVIRONMENT

The operating environment in 2016 continued to be challenging, characterized by high inflation and a food output deficitfollowing poor weather conditions.The country is expected to record a weak GDP growth rate of 2.5% compared to previous higher projections. Prices for tobacco, the mainstay of the country’s export sector,were 19% below those of the previous year, resulting in the crop’s export earnings being 18% lower than the previous year. Annual average inflation for 2016 was recorded at 21.7% compared to 21.9% the year before.

Download the 2016 Annual Report

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National Bank of Malawi is pleased to announce that it has adjusted its Base Lending rate downward to 30.5% with effect from Saturday, 1st April 2017.

Customers will be delighted to learn that the rates on their deposits remain unchanged.

In partnership with Malawi Defence Force and Department of Forestry, NBM launches 2017 Afforestation Program on Chilembwe Day 15th January 2017.

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National Bank of Malawi(NBM) has contributed K1 million to the Economics Association of Malawi(ECAMA) Annual Conference which started in Mangochi yesterday.

Bein held under the theme "Managing Risks and Protecting the Vulnerable:Redesigning Malawian Future,the conference will be opened by the Minister of Finance, Goodall Gondwe.

The conference has brought together a cross-section of people from different sectors of the economy, including developmental partners in a quest to make Malawi a more developmental conscious and progressive economy. In his remarks ECAMA president Henry Kachaje applauded NBM for the continued support towards the association's mission to make an inclusive economic growth a reality.

NBM Head of Strategy, Marketing and Corporate Affairs,Wilkins Mijiga said it pleases NBM as a bank to work with institutions such as ECAMA in the quest to grow the economy.