FDH Bank plc eyes K28.5 billion half-year-profit

FDH Bank plc has projected its half-year profit-after-tax ending June 30, 2024 to be between K25.5 billion to K28.5 billion from K15 billion the previous year. This represents an increase of between 69.8 percent to 89.8 percent higher than the one reported for the previous corresponding period. According to the statement released by the company […]

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FDH Bank plc has projected its half-year profit-after-tax ending June 30, 2024 to be between K25.5 billion to K28.5 billion from K15 billion the previous year.

This represents an increase of between 69.8 percent to 89.8 percent higher than the one reported for the previous corresponding period.

According to the statement released by the company secretary Juliano Kanyongolo, the summary consolidated and separate financial statements of the Bank of the period ending 30^th June will be published within the required period.

“In terms of the Listing Requirements of the Malawi Stock Exchange, a listed company is required to publish a Trading Statement as soon as there is a reasonable degree of certainty that the financial statements for thee period to be reported upon will differ at least 20% from that of the previous corresponding period,” reads the statement.

In the statement, the Bank says the information on which the Trading Statement is based has not been reviewed and reported on by its external auditors.

Earlier this year, the Malawi Stock Exchange listed Bank announced a substantial profit-after-tax increase of 55% to K35.6 billion from K22.9 billion profit over a similar period in 2022.

During its Annual General Meeting held recently, members of the Minority Shareholders Association commended FDH Bank plc for the growth.

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