FDH Bank plc expects 2024 profit jump to 75%

FDH Bank plc has announced that it expects its profit for the year ending December 31, 2024, to grow to between K59.2 billion and K62.5 billion.

This represents a 66 percent and 75 percent increase from the K35.6 billion reported in the previous period last year.

According to the statement released by the Company Secretary Juliano Kanyongolo, the summary consolidated and separate financial statements of the Bank for the year ending December 31^st, 2024 will be published later.

“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 the period to be reported upon will differ at least 20% from that of the previous corresponding period,” said Kanyongolo.

Kanyongolo further said the information on which the Trading Statement is based has not been reviewed and reported on by its external auditors of FDH plc.

Earlier this year, the Malawi Stock Exchange-listed Bank announced a substantial profit-after-tax increase by 55 percent from K22.932 billion to K35.467 billion last year.

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