{"id":70123,"date":"2025-05-04T22:50:00","date_gmt":"2025-05-04T22:50:00","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/fdh-bank-boasts-k74-billion-profit-after-tax-in-2024-fy-2"},"modified":"2025-05-04T22:50:00","modified_gmt":"2025-05-04T22:50:00","slug":"fdh-bank-boasts-k74-billion-profit-after-tax-in-2024-fy-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/fdh-bank-boasts-k74-billion-profit-after-tax-in-2024-fy-2","title":{"rendered":"FDH Bank boasts K74 billion profit after tax in 2024 FY"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>FDH Bank plc has reported a robust financial performance, recording a profit after tax of K74 billion for the financial year ending 31 December 2024, more than double the K35.6 billion posted in 2023 marking a 108 percent increase.<\/p>\n

The results were announced at the Bank\u2019s annual Investor Forum held at the TFM Centre of Excellence in Blantyre, where the management team outlined its strategic outlook amid a challenging macroeconomic landscape.<\/p>\n

FDH Bank Managing Director Noel Mkulichi attributed the growth to a combination of staff empowerment, operational efficiency, and targeted customer focus.<\/p>\n

\u201cIn 2024 the environment was very challenging, but we took up the challenge and that is what drove this strong performance,\u201d Mkulichi said.<\/p>\n

\u201cAnd looking ahead, staff development is one of our strategic pillars. That means upskilling our staff, but also relying on their commitment.\u201d<\/p>\n

He highlighted the Bank\u2019s continued investment in digital platforms and innovations aimed at improving turnaround times and service delivery.<\/p>\n

\u201cWe are upgrading our systems and delivery channels. We believe that will help us move forward. It\u2019s about operating efficiently and meeting customer needs,\u201d Mkulichi added.<\/p>\n

On the issue of inflation, he noted that the rising costs were already affecting the Bank\u2019s operations.<\/p>\n

\u201cWhen inflation goes up, business costs go up too. We need to ensure we contain costs while maintaining performance,\u201d he stated.<\/p>\n

Board Chairperson Charity Mseka described the outlook for 2025 as a \u201cmixed bag,\u201d acknowledging that while growth is achievable, the broader economic terrain remains uncertain.<\/p>\n

\u201cYou will appreciate that there are still challenges in the economy, particularly forex availability and inflation, but we always strive to take up the challenges. If we maintain this trend, the future looks very bright,\u201d said Mseka.<\/p>\n

She emphasized the Bank\u2019s readiness to support sectors with high growth potential.<\/p>\n

\u201cIt is giving us an opportunity to partner with those venturing into agriculture, mining, and other productive sectors. We are ready to finance businesses that can transform the economy,\u201d she said.<\/p>\n

FDH Bank\u2019s inclusive banking initiative, Salama Banking, was also discussed during the forum.<\/p>\n

Mseka said the product which targets informal and underserved market segments is \u201cfaring very well,\u201d but pledged to continue community engagements to raise robust awareness about the facility.<\/p>\n

\u201cWe may not always see these clients in our banking halls. What they are proposing is for us to visit them. The pipeline is strong, and Salama is contributing quite a lot to our numbers,\u201d she said.<\/p>\n

Commenting on the financial performance of the financial institution, Joe Maele, a member of Minority Shareholders of Listed Companies, Joe Maele praised the Bank\u2019s transparency and inclusive engagement.<\/p>\n

\u201cAs minority shareholders, we feel heard and valued. FDH is not only delivering results it\u2019s ensuring that even small investors are brought along on the journey,\u201d Maele said.<\/p>\n

He also encouraged the Bank to continue aligning with regulators and government to maintain its growth trajectory.<\/p>\n

As the economic environment remains unpredictable, FDH Bank\u2019s leadership says it is focusing on strategic risk management, efficiency, and expanding access to finance.<\/p>\n

With strong financials, growing product portfolios, and expanding community banking initiatives, FDH Bank says it is poised to navigate the uncertainties ahead while remaining committed to innovation and inclusive growth.<\/p>\n

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

Africa-Press – Malawi. FDH Bank plc has reported a robust financial performance, recording a profit after tax of K74 billion for the financial year ending 31 December 2024, more than double the K35.6 billion posted in 2023 marking a 108 percent increase. The results were announced at the Bank\u2019s annual Investor Forum held at the […]<\/p>\n","protected":false},"author":84,"featured_media":70122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,371,234],"class_list":["post-70123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nFDH Bank boasts K74 billion profit after tax in 2024 FY - Malawi<\/title>\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\/fdh-bank-boasts-k74-billion-profit-after-tax-in-2024-fy-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FDH Bank boasts K74 billion profit after tax in 2024 FY\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Malawi. FDH Bank plc has reported a robust financial performance, recording a profit after tax of K74 billion for the financial year ending 31 December 2024, more than double the K35.6 billion posted in 2023 marking a 108 percent increase. 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