FDH Bank earned K74 billion after taxes during 2024. The profit doubled from K35.6 billion the year before. Shareholders will receive more money because of strong results. The bank performed well despite tough economic times. Leaders announced the numbers at their annual meeting.
Total revenue jumped 90 percent to K195 billion last year. Net interest income grew 136 percent to K141 billion. Bank assets rose 119 percent and crossed K1.2 trillion. Customer deposits almost doubled to K883 billion. People trust the bank more and keep their money there.
FDH launched Shariah-compliant banking services for Muslim customers. The bank became the first in Malawi to offer Islamic financial products. They also opened a branch on Likoma Island for remote customers. Market value passed K2.1 trillion on the stock exchange. Shareholders received K35.1 billion in dividend payments.
The bank faced challenges from high inflation and currency problems. Operating costs went up 42 percent because of technology investments. Economic growth stayed slow across the country. Leaders expect inflation to average 29.2 percent next year. GDP growth should reach 4.0 percent compared to 1.8 percent this year.
Total revenue jumped 90 percent to K195 billion last year. Net interest income grew 136 percent to K141 billion. Bank assets rose 119 percent and crossed K1.2 trillion. Customer deposits almost doubled to K883 billion. People trust the bank more and keep their money there.
FDH launched Shariah-compliant banking services for Muslim customers. The bank became the first in Malawi to offer Islamic financial products. They also opened a branch on Likoma Island for remote customers. Market value passed K2.1 trillion on the stock exchange. Shareholders received K35.1 billion in dividend payments.
The bank faced challenges from high inflation and currency problems. Operating costs went up 42 percent because of technology investments. Economic growth stayed slow across the country. Leaders expect inflation to average 29.2 percent next year. GDP growth should reach 4.0 percent compared to 1.8 percent this year.
