By Steven Godfrey Mkweteza
BLANTYRE-(MaraviPost)-FMBCH capital Holdings (FMBCH) Plc, the holding company for first capital Bank in Africa, has announced that it has made a profit after tax of US$61.2 million (about MK62.6 billion) in the year ended December 31, 2022.
This represents a 51 perfect jump from US$40.4 (about MK41.4 billion) reported in the previous year.
The group chief executive officer, Jaco Viljoen disclosed this in an interview during the 7th Annual General Meeting (AGM) for the company held in Blantyre.
Viljoen said the strong performance in the year was on account of growth income accretive asserts and profits across it’s footprints.
“All our banks in the five SADC countries have significantly contributed to this growth margin but Malawi has been the biggest contributor in dollar terms as well,” said Viljoen
Viljoen added that the financial service providers’ non-performing loans remained one of the lowest in the regional banking industry at only 2.8% while the customer deposits went up to 17% in financial year.
“These are also some contributory factors to our growth in profit margins in the year,” added Viljoen
According to him, the group foresee the constant growth in the profit margin this year as a result of measures that it has put in place against the risks.
In a separate interview, the secretary general for Minority Shareholders Association of Listed Companies (MISALICO), Frank Harawa, said is impressed with the performance of the group looking at the increased share price and dividends for the year.
Harawa said with an increase of MK218 per share price and MK4 per declared dividends, the minority shareholders of the group will change their lives for the better.
The FMB capital Holdings plc is the Mauritius based holding company of the FMB capital group.
It was listed on the Malawi Stock Exchange (MSE) in 1995.
