Africa-Press – Malawi. CDH Investment Bank has reported an impressive K23.534 billion profit after tax for the financial year ending December 31, 2024, according to a published summary of its audited results. This represents a remarkable 111% increase compared to the K11.141 billion profit recorded in 2023.
The report highlights robust growth across key financial indicators. Total assets surged by 72%, rising from K311 billion in 2023 to K536 billion in 2024. Customer deposits grew by 27% year-on-year, while loans and advances increased by 28%.
Investment funds and financial assets also saw significant growth, rising by 161% and 160% respectively.
According to the financial summary—endorsed by Board Chairperson Mr. Franklin Kennedy, Board Audit Committee Chairperson Mr. Sydney Chikoti, CEO and Managing Director Mr. Thoko Mkavea, and CFO Mr. Kelvin Mkulichi—net interest income doubled, while non-interest income rose by 36% to reach K15.8 billion. Overall net revenue grew by 76%.
“The leading specialist bank in Malawi continues to successfully leverage its unique proposition, integrating investment banking with traditional commercial banking activities to deliver impressive value to stakeholders,” the report stated. “This has translated into an outstanding return on shareholders’ equity of 52%.”
Operating expenses grew by 40% during the year, but the bank managed to improve efficiency, with the cost-to-income ratio dropping to 39% from 43% in the previous year.
Economic Outlook
Looking ahead, the Government projects a 4% economic growth rate for Malawi in 2025, driven by improved food security, higher export earnings, and increased investments in agriculture, mining, and tourism.
Inflation and interest rates are expected to stabilize at current levels. However, the outlook remains vulnerable to risks such as fiscal slippage due to rising government expenditure, climate-related shocks, and the pending renewal of the IMF-supported Extended Credit Facility (ECF), which could influence foreign currency inflows and affect imports of critical raw materials.
Additional uncertainties include potential global economic disruptions due to protectionist trade policies, escalating geopolitical tensions in Europe and Africa, and a possible reduction in U.S. aid to Malawi.
Appreciation
CDH Investment Bank extended gratitude to all its stakeholders—including clients, shareholders, the Government of Malawi, the Reserve Bank of Malawi, media houses, and business partners—for their continued support, which contributed to the bank’s strong performance in 2024.
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