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NATSAVE records K5M profit 

By CINDY MANTELO

THE National Savings and Credit  Bank (NATSAVE) Chief Executive Officer Malcom Chabala says the banking sector has performed well this year, despite the economic challenges the country is facing.

He said NATSAVE has recorded an annual profit of approximate K55 million.

He said the balance sheet has expanded, with the bank now possessing total assets exceeding K2 billion.

In an interview, Mr. Chabala said with these financial reports, it is an indication that the banking sector is being well managed.

He said the amidst the high inflation and exchange rates rising the banking sector has firm in ensuring that things move in the right direction.

And Mr Chabala said the non-performing loans for NATSAVE stands at one percent, significantly lower than the 10 percent industry standard.

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