NMBZ Holdings Limited has reported a profit before tax of $705 million for the year ended December 31, 2020, representing an inflation adjusted increase of more than $14 million compared to the previous year’s inflation adjusted pre-tax profit of $691 million.
The group achieved a basic earnings per share of 210,12 cents compared to 96,49 cents in 2019. Operating expenses were up 18 percent to $1,3 billion from $1,1 billion in the previous year.
“The increase in operating expenditure was mainly due to staff rationalisation costs and Covid-19 related expenditure to ensure the safety of the bank’s customers and staff as well as to ensure adherence to the Covid-19 protocol set by the World Health Organisation,” NMBZ said.
NMBZ chief executive,, Benefit Washaya
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