NBS Bank

Ticker code NBS Industry Regional Banks NBS House
Ginnery Corner
P.O Box 32251
Chichiri
Blantyre 3, Malawi
ISIN MW000A1C5MF1 Sector Financial
Initial Listing 27 June 2007 Financial Year End 31 December
Website www.nbsmw.com Results Released Half-yearly
2010 2011 2012 2013 2014
  MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement of comprehensive income
Income
Net interest income 3,209,002 4,128,289 5,682,730 9,311,733 10,769,146
Net fees and commission income 1,450,267 1,763,402 2,092,421 2,311,809 3,381,606
Profit on foreign exchange transactions 1,335,221 444,644 1,252,756 1,945,286 3,199,405
Other income 22,728 405,244 234 13,285 133,006
Operating income 6,017,218 6,741,579 9,028,141 13,582,113 17,483,163
Expenditure
Personnel expenses -1,710,479 -1,878,246 -2,156,904 -2,991,468 -3,703,228
Recurrent expenditure on premises and equipment -344,405 -347,459 -539,965 -978,947 -1,011,465
Depreciation and amortisation -305,226 -371,290 -576,175 -638,551 -621,948
Other operating costs -1,289,338 -1,423,341 -2,707,208 -2,908,739 -3,732,519
Operating expenditure -3,649,448 -4,020,336 -5,980,252 -7,517,705 -9,069,160
Profit before loan impairment losses 2,367,770 2,721,243 3,047,889 6,064,408 8,414,003
Net impairment loss on financial assets -269,682 -189,218 -1,561,406 -3,213,762 -4,348,600
Profit before income tax expense 2,098,088 2,532,025 1,486,483 2,850,646 4,065,403
Income tax expense -693,877 -846,003 -760,022 -938,063 -1,372,885
Profit for the year 1,404,211 1,686,022 726,461 1,912,583 2,692,518
Total comprehensive income for the year 1,443,327 1,539,220 1,007,462 1,892,056 2,702,190
Basic and diluted earnings per share (MK) 2.85 3.04 1.00 2.63 3.70
           
Statement of financial position 
Total assets 38,850,088 56,054,120 59,623,362 60,213,677 68,361,292
Total liabilities 35,239,866 49,522,721 52,484,705 51,182,964 56,628,389
Total equity 3,610,222 6,531,399 7,138,657 9,030,713 11,732,903
Total liabilities and equity 38,850,088 56,054,120 59,623,362 60,213,677 68,361,292
Statement of cash flows
Net cash from operating activities 1,564,211 3,596,980 -5,467,958 13,394,179 4,672,444
Net cash used in investing activities -770,819 -1,053,782 -1,660,638 -733,973 -1,118,011
Net cash from/used in financing activities 2,235,446 -563,821 5,327,262 -8,576,286 2,029,985
Net increase in cash and cash equivalents 3,028,838 1,979,377 -1,801,334 4,083,920 5,584,418
Cash and cash equivalents at 1 January 6,137,262 9,166,100 11,145,477 9,344,143 13,428,063
Cash and cash equivalents at 31 December 9,166,100 11,145,477 9,344,143 13,428,063 19,012,481
Increase/decrease in net working capital 2,272,243 2,435,325 -3,583,002 4,418,010 8,467,960

Period ended: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement type: Audited Audited Audited Audited Audited
View original statement: Download Download Download Download Download
Income 
Interest on loans and advances 3,893,561 5,284,112 9,733,664 13,619,778 12,241,547
Interest on placements with other banks 33,924 78,419 50,205 50,270 68,971
Income from lease financing 426,649 427,567 593,959 780,868 760,709
Income from money market investments 247,971 221,949 446,767 2,747,572 1,441,080
Total interest income 4,602,105 6,012,047 10,824,595 17,198,488 14,512,307
Interest expense -1,393,103 -1,883,758 -5,141,865 -7,886,755 -3,743,161
Net interest income 3,209,002 4,128,289 5,682,730 9,311,733 10,769,146
Net fees and commission income 1,450,267 1,763,402 2,092,421 2,311,809 3,381,606
Profit on foreign exchange transactions 1,335,221 444,644 1,252,756 1,945,286 3,199,405
Other income 22,728 405,244 234 13,285 133,006
Operating income 6,017,218 6,741,579 9,028,141 13,582,113 17,483,163
           
Expenditure
Personnel expenses -1,710,479 -1,878,246 -2,156,904 -2,991,468 -3,703,228
Recurrent expenditure on premises and equipment -344,405 -347,459 -539,965 -978,947 -1,011,465
Depreciation and amortisation -305,226 -371,290 -576,175 -638,551 -621,948
Other operating costs -1,289,338 -1,423,341 -2,707,208 -2,908,739 -3,732,519
Operating expenditure -3,649,448 -4,020,336 -5,980,252 -7,517,705 -9,069,160
           
Profit before loan impairment losses 2,367,770 2,721,243 3,047,889 6,064,408 8,414,003
Net impairment loss on financial assets -269,682 -189,218 -1,561,406 -3,213,762 -4,348,600
Profit before income tax expense 2,098,088 2,532,025 1,486,483 2,850,646 4,065,403
Income tax expense -693,877 -846,003 -760,022 -938,063 -1,372,885
Profit for the year 1,404,211 1,686,022 726,461 1,912,583 2,692,518
Other comprehensive income net of income tax
Surplus on revaluation 40,897 - - - -
Net change in revaluation of owned properties - - 261,810 - -
Net profit/loss on available for sale financial assets -1,781 -22,600 19,191 -20,527 9,672
Reversal of loan loss reserve - -124,202 - - -
Other comprehensive income   39,116 -146,802 281,001 -20,527 9,672
Total comprehensive income for the year 1,443,327 1,539,220 1,007,462 1,892,056 2,702,190
           
Basic and diluted earnings per share (MK) 2.85 3.04 1.00 2.63 3.70

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Period length: 6 months 6 months 6 months 6 months 6 months
Unit: MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement type: Unaudited Audited Unaudited Audited Unaudited
View original statement: Download Download Download Download Download
Interest income received 8,676,806 8,521,682 7,061,639 7,450,668 6,513,056
Interest payable -4,734,775 -3,151,980 -2,152,037 -1,591,124 -1,659,775
Net interest income 3,942,031 5,369,702 4,909,602 5,859,544 4,853,281
Other income 1,791,723 2,465,372 3,185,693 3,528,324 3,100,502
Net income 5,733,754 7,835,074 8,095,295 9,387,868 7,953,783
           
Operating expenses -3,540,603 -3,963,818 -4,240,963 -4,828,197 -5,228,715
           
Profit before impairment losses 2,193,151 3,871,256 3,854,332 4,559,671 2,725,068
Impairment provisions -1,341,817 -1,871,945 -1,943,631 -2,404,969 -1,730,431
Profit before tax 851,334 1,999,312 1,910,701 2,154,702 994,637
Income tax expenses -337,713 -600,350 -715,712 -657,173 -328,230
Profit for the period 513,621 1,398,962 1,194,989 1,497,529 666,407
           
Other comprehensive income
Surplus on revaluation - - - - -
Net profit/loss on held to maturity financial assets -81,511 60,984 9,672 - -
Total other comprehensive income  -81,511 60,984 9,672 - -
Total comprehensive income 432,110 1,459,946 1,204,661 1,497,529 666,407
           
Earnings per share (tambala) 59 204 166 204 92
Weighted average ordinary shares in issue (millions) 728 728 728 728 728

Period ended: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement type: Audited Audited Audited Audited Audited
View original statement: Download Download Download Download Download
Assets
Cash and cash equivalents 9,166,100 11,145,477 9,344,143 13,428,063 19,012,481
Money market investments 1,199,078 2,984,295 7,043,499 5,654,850 6,666,175
Loans and advances to customers 24,143,692 36,007,914 35,714,754 34,861,318 31,023,652
Amounts due from subsidiary - - - - -
Investment securities 18,665 18,665 33,665 33,665 48,665
Investment in subsidiary - - - - -
Property and equipment 3,071,922 3,694,033 5,097,895 5,123,219 5,610,443
Intangible assets 71,392 131,448 58,859 128,957 115,823
Other assets 1,023,888 2,072,288 2,330,547 983,605 5,884,053
Deferred tax assets 155,351 - - - -
Total assets 38,850,088 56,054,120 59,623,362 60,213,677 68,361,292
           
Liabilities and equity          
Liabilities  
Amounts due to subsidiary - - - - -
Current and savings accounts 19,123,635 31,950,035 21,321,496 28,846,527 35,300,085
Term deposit accounts 8,262,881 12,360,333 15,408,567 13,992,633 8,183,203
Short-term loan 3,730,234 2,059,207 8,132,983 935,190 5,037,404
Long-term loans 20,010 20,010 476,545 435,961 317,118
Provisions 471,087 - - - -
Deferred tax liabilities 173,597 227,892 349,851 241,189 266,957
Foreign currency denominated accounts 2,309,924 1,110,543 2,773,557 4,340,911 4,830,975
Income tax payable 91,449 222,359 434,065 590,546 645,263
Other liabilities 1,057,049 1,572,342 3,587,641 1,800,007 2,047,384
Total liabilities  35,239,866 49,522,721 52,484,705 51,182,964 56,628,389
           
Equity 
Share capital 260,372 363,822 363,822 363,822 363,822
Share premium 602,756 2,323,895 2,323,895 2,323,895 2,323,895
Revaluation reserve 297,648 290,207 552,017 552,017 552,017
Fair value reserve 14,264 -8,336 10,855 -9,672 -
Retained earnings 2,310,980 3,561,811 3,888,068 5,800,651 6,407,767
Loan loss reserve 124,202 - - - 2,085,402
Total equity 3,610,222 6,531,399 7,138,657 9,030,713 11,732,903
Total liabilities and equity  38,850,088 56,054,120 59,623,362 60,213,677 68,361,292

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Unit: MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement type: Unaudited Audited Unaudited Audited Unaudited
View original statement: Download Download Download Download Download
Liabilities and equity
Deposits from customers 45,963,132 47,180,070 49,200,508 48,314,263 55,161,726
Deposits from banks 7,527,303 1,371,151 1,133,537 5,037,404 2,798,779
Other liabilities 1,791,182 2,631,743 2,703,089 3,276,722 2,143,246
Ordinary shareholder funds 7,570,766 9,030,713 10,235,374 11,732,903 12,399,310
Total liabilities and equity 62,852,383 60,213,677 63,272,508 68,361,292 72,503,061
           
Assets
Cash and cash equivalents 10,316,783 13,428,063 12,491,670 19,012,481 17,855,616
Other receivables 2,899,596 983,605 2,844,534 5,932,718 3,852,940
Other investments 10,780,559 5,817,472 7,679,728 6,666,175 11,515,837
Loans and advances 33,677,163 34,861,318 35,163,174 31,023,652 32,432,496
Property, plant and equipment 5,178,282 5,123,219 5,093,402 5,726,266 6,846,172
Total assets 62,852,383 60,213,677 63,272,508 68,361,292 72,503,061

Period ended: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement type: Audited Audited Audited Audited Audited
View original statement: Download Download Download Download Download
Cash flows used in/from operating activities
Interest received 4,602,105 6,012,047 10,824,595 17,198,488 14,512,307
Fees and exchange gains 2,819,958 2,230,854 3,345,411 4,270,380 6,714,017
Interest paid -1,393,103 -1,883,758 -5,141,865 -7,886,755 -3,743,161
Cash paid to suppliers and employees -2,875,763 -6,091,392 -8,455,019 -7,803,755 -14,363,327
3,153,197 267,751 573,122 5,778,358 3,119,836
Movement in net customer balances -836,046 3,851,739 -5,615,621 8,529,887 2,844,159
2,317,151 4,119,490 -5,042,499 14,308,245 5,963,995
Income tax paid -752,940 -522,510 -425,459 -914,066 -1,291,551
Net cash from operating activities  1,564,211 3,596,980 -5,467,958 13,394,179 4,672,444
           
Cash flows used in/from investing activities
Acquisition of shares - - -15,000 - -15,000
Proceeds on disposal of property and equipment 12,845 9,791 - - -
Acquisition of property and equipment -780,168 -1,050,817 -1,641,257 -714,438 -1,053,474
Acquisition of intangible assets -3,496 -12,756 -4,381 -19,535 -49,537
Net cash used in investing activities  -770,819 -1,053,782 -1,660,638 -733,973 -1,118,011
           
Cash flows from/used in financing activities
Proceeds from share issue - 1,986,240 - - -
Share issue costs paid - -161,651 - - -
Loan receipts/repayment 3,028,773 -1,945,778 5,727,466 -8,576,286 2,029,985
Short term loan -497,327 - - - -
Dividend paid -296,000 -442,632 -400,204 - -
Net cash from/used in financing activities 2,235,446 -563,821 5,327,262 -8,576,286 2,029,985
           
Net increase in cash and cash equivalents 3,028,838 1,979,377 -1,801,334 4,083,920 5,584,418
Cash and cash equivalents at 1 January 6,137,262 9,166,100 11,145,477 9,344,143 13,428,063
Cash and cash equivalents at 31 December 9,166,100 11,145,477 9,344,143 13,428,063 19,012,481
           
Increase/decrease in net working capital  2,272,243 2,435,325 -3,583,002 4,418,010 8,467,960

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Period length: 6 months 6 months 6 months 6 months 6 months
Unit: MWK'000 MWK'000 MWK'000 MWK'000 MWK'000
Statement type: Unaudited Audited Unaudited Audited Unaudited
View original statement: Download Download Download Download Download
Operating activities 
Interest and fees received 10,468,529 10,973,890 10,247,332 10,978,992 9,613,558
Interest paid -4,734,775 -3,151,980 -2,152,037 -1,591,124 -1,659,775
Cash paid to suppliers and employees -5,564,352 -2,267,288 -7,633,656 -6,729,671 -12,057,208
Movement in net customer balances 3,877,367 4,706,854 1,718,582 1,125,577 5,438,619
Income tax paid -644,066 -270,000 -686,551 -605,000 -799,351
Cash flows from operating activities  3,402,703 9,991,476 1,493,670 3,178,774 535,843
           
Investing activities 
Acquisition of shares in Natswitch - - - -15,000 -
Acquisition of property and equipment -359,767 -374,206 -359,767 -743,244 -1,455,467
Cash outflow from investing activities  -359,767 -374,206 -359,767 -758,244 -1,455,467
           
Financing activities 
Long-term loan repayments -2,070,296 -6,505,990 -2,070,296 4,100,281 -237,241
Cash outflow from financing activities  -2,070,296 -6,505,990 -2,070,296 4,100,281 -237,241
           
Net movement in cash and cash equivalents 972,640 3,111,280 -936,393 6,520,811 -1,156,865
Cash and cash equivalents at beginning of period 9,344,143 10,316,783 13,428,063 12,491,670 19,012,481
Cash and cash equivalents at end of period  10,316,783 13,428,063 12,491,670 19,012,481 17,855,616