{"id":54990,"date":"2023-12-21T22:05:22","date_gmt":"2023-12-21T22:05:22","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit"},"modified":"2023-12-21T22:22:46","modified_gmt":"2023-12-21T22:22:46","slug":"fmbcapital-holdings-post-k47-billion-profit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit","title":{"rendered":"FMBcapital Holdings post K47 billion profit"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>FMBcapital Holdings (FMBCH), the holding company for First Capital Bank operations, has reported a half-year profit after tax of US$42 million (about K47 billion) which is up by 67% from the same period last year.<\/p>\n

This was disclosed on Monday October 30, 2023 when the company held an investor roundtable where it also announced a strong set of results for the first six months of 2023. Last year during a similar period, FMB reported a profit after tax of US$25 million (about K28 billion).<\/p>\n

The results as at the end of June 2023 followed an already impressive full-year performance in 2022 which yielded a profit after tax of US$ 61.2 million (over K69 billion), showcasing significant growth in Financial performance.<\/p>\n

Speaking at the roundtable meeting, the Group Chief Executive Officer of FMBCH, Jaco Viljoen said they saw it wise to meet with their shareholders to discuss some few emerging issues as the company is tremendously growing.<\/p>\n

\u201cIt is important to meet with our shareholders to discuss the business environment, our growth amidst challenging macro-economic conditions and the Group\u2019s strategic plans. We also wish to share our continued commitment to service excellence.<\/p>\n

\u201cThis is supported by strategic investments into our people, as well as into technology, which have been integral to our growth so far,\u201d explained Viljoen.<\/p>\n

Viljoen further added that the Group will continue to pursue its strategic priorities by driving long-term, sustainable performance and growth and the priorities include deepening First Capital\u2019s brand equity with existing and new customers, increasing the active customer base, and developing their people.<\/p>\n

Viljoen further reported that combined customer base grew from 555,016 to 585,966, bringing in over 30,000 new clients in the first half of the year and he attributed the growth of the customers base to the partnership with FCB Nyasa Big Bullets.<\/p>\n

\u201cWhat\u2019s good in Malawi is that we have branches, we have nine branches, our bank\u2019s brand is stronger and also the partnership that we have done with FCB Nyasa Big Bullets has helped us to get that awareness again in the market. We have also been pushing our staff hard on the ground and we have also changed account opening process, customers can now open an account within 20 minutes,\u201d he added.<\/p>\n

The company further report that over the six months to 30 June 2023, net interest income for the half year is up 25% and total non-interest income is up 28%, resulting in total operating income of US$121 million (over K123 billion) a growth of 28% period on period, while loans and advances to customers are up 12% at period end, closing at US$700 million (over K790 billlion)<\/p>\n

Customer deposits are up 26% to more than US$ 1.13 billion (about K1.2 trillion) while total assets are up 11% to more than US$ 1.54 billion (about K1.7 trillion) and it is further reported that the interim dividend will be paid on or about 15 November 2023 to shareholders whose names will appear on the Register of Members at close of business on 10 November 2023.<\/p>\n

Meanwhile, Frank Harawa who is secretary general for the Minority Shareholders Association of Listed Companies (Misalico), has commended the company management for deciding to interact with shareholders through the investors meeting and also for fruitful efforts which he said is resulting in the growth of the company.<\/p>\n

FMBcapital Holdings Plc provides banking and finance solutions through its operating subsidiaries in five Southern African Development Community (SADC) markets Botswana, Malawi, Mozambique, Zambia, and Zimbabwe, with an Information Technology and Operations Shared Service Centre in Mauritius.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. FMBcapital Holdings (FMBCH), the holding company for First Capital Bank operations, has reported a half-year profit after tax of US$42 million (about K47 billion) which is up by 67% from the same period last year. This was disclosed on Monday October 30, 2023 when the company held an investor roundtable where it […]<\/p>\n","protected":false},"author":84,"featured_media":54989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,371,1195,3133,7288,234],"class_list":["post-54990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-malawi","tag-banks","tag-finance","tag-fmb-bank","tag-malawi"],"yoast_head":"\nFMBcapital Holdings post K47 billion profit - Malawi<\/title>\n<meta name=\"description\" content=\"FMBcapital Holdings (FMBCH), the holding company for First Capital Bank operations, has reported a half-year profit afte ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FMBcapital Holdings post K47 billion profit\" \/>\n<meta property=\"og:description\" content=\"FMBcapital Holdings (FMBCH), the holding company for First Capital Bank operations, has reported a half-year profit afte ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-21T22:05:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-21T22:22:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/12\/sm_1703184631.647491.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"FMBcapital Holdings post K47 billion profit\",\"datePublished\":\"2023-12-21T22:05:22+00:00\",\"dateModified\":\"2023-12-21T22:22:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit\"},\"wordCount\":587,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/12\/sm_1703184631.647491.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Banks\",\"finance\",\"FMB Bank\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/fmbcapital-holdings-post-k47-billion-profit\",\"name\":\"FMBcapital Holdings post K47 billion profit - 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