A summary of unaudited interim results for the first half of 2019, shows that MyBucks Banking Corporation posted 55% profit before tax, registered at K1.3 billion. The results, signed by Chairperson, Francis Pelekamoyo, Director Morgan Tembo, Chief Executive Officer Zandile Shaba and Chief Financial Officer, Thomson Kumwenda, also show improvements in the bank’s loan book; 77% growth, at K21 billion in the six month period ending June 30 from K12 billion registered in the same period last year.

The development follows a rebrand after New Finance Bank (NFB) was acquired by MyBucks, which changed the banks name to MyBucks Banking Corporation, as MyBucks acquired 100% of NFB.

During the rebrand, the banks chairperson, Francis Pelekamoyo revealed plans of producing innovative products and services to the local market as part of MyBucks Group’s strategy of consolidating its operations and streamlining services to enable fast, effective technology-driven financial services.

“The merger of NFB with GetBucks Malawi and the rebranding creates a Malawian entity that is poised to reach even more customers, provide seamless and easy banking and continue to enable our vision of meaningful financial inclusion,” Pelekamoyo said.