By Chimwemwe Misomali
Malawi Stock Exchange (MSE)-listed FDH Bank has reported an 86 percent increase in profit after tax and earning per share in the six months period ended June 30 2024, published unaudited summary consolidated and separate financial statements show.
According to the statement, the bank posted a profit of K27.9 billion during the period, up from K15 billion during the corresponding time last year.
Its earnings per share have increased to K40.50 per share from K21.80 last year.
“Net interest income has gone up by 85 percent on the back of the increase in the loan book by 80 percent and other interest-bearing assets. Non-interest income increased by 43 percent mainly as a result of the continuing growth in international trade and trade finance business. The digital revenue continues to grow as more customers are now embracing the digital platforms,” the report reads.
FDH Managing Director Noel Nkulichi said the bank remains committed to providing easy access to financial solutions that enable communities to grow.
“The bank will deliver on this commitment by focusing on meeting customer needs, improving our operations while reducing operating costs for sustainable performance and profitability, developing our employees, leading in customer centric innovation and contributing to the creation of an inclusive, diverse and sustainable society,” Nkulichi said.
