FMB Capital Holdings plc (FMBCH), the parent company behind First Capital Bank, has registered a profit after tax of $14.29 million (about K10.5 billion) in the six months period ended June 30, 2020.

Figures on a published financial statement from the company, the above represents a 181% growth when compared to the $5.1 million (about K3.8 billion) posted in the same period last year.

The results show that there has been growth noted in the company’s subsidiary in Botswana, attributed to increased transactional volumes, a growing customer base and a significant foreign currency income. The statement says that while FMBCH had a difficult 2019, subsidiaries in Malawi, Mozambique and Zambia have remained profitable.

FMBCH Group Managing Director, Dheeraj Dikshit, said the group is encouraged by these results which are in line with the holding company’s 2020 financial and strategic goals.