In just the first half of 2019, FDH Bank has posted a K3.35 billion after-tax profit in the year under review that ended on June 30 2019. During the same period last year, the bank made K1.34 billion, translating to a 153% profit increase.

According to summarised audited financial statements show a  decline by 9%, while its income has grown by 13% to K14.75 billion from K11.28 billion.According to a statement co-signed by board chairperson Arthur Oginga, managing director Eric Ouattara, chief finance officer George Chitera and Ulemu Katunga, chairperson of the finance audit, the bank investments pushed up operating expenses by 13% compared to the same period last year. “The bank has continued to invest in digital products, infrastructure, human capacity development and innovative customer-centric solutions as the focus is to improve customer experience as well as diversifying sources of non-interest income” says the part of the audited financial statement.

FDH Bank’s total assets increased by 34% year-on-year to K182.7 billion largely due to the increase in government securities by 62% and loans and advances by 14%, which is part of the bank’s strategy to grow the interest earning assets. In other news, FDH Financial Holdings Limited has unveiled plans to list FDH Bank, on the 14-counter Malawi Stock Exchange (MSE) by mid-year, next year. The firm’s group chief executive officer Thom Mpinganjira hailed the development as an investment opportunity for Malawians to own FDH Bank.