FMB Holdings Plc Reports 67% Profit Increase Amid Challenging Conditions
The group has a total asset base of over $1.5 billion, employs over 1,900 staff, and services the financial needs of customers across Africa.
Blantyre, Malawi-FMB Holdings Plc (FMBCH), the Mauritius-based holding company for First Capital Bank, reported a profit after tax of $42 million for the six months ending June 30, 2023, writes Mayamiko Phiri
This figure represents a 67% increase from the same period in 2022, when the interim profit after tax was $25 million.
The impressive results follow a strong full-year performance in 2022, which yielded a profit after tax of $61.2 million.
The figures demonstrate significant growth in financial performance for the group.
Group CEO Jaco Viljoen discussed the results during an investor roundtable held at their head office in Blantyre on Oct. 30.
Viljoen emphasised the importance of engaging with their customers and shareholders.
“It is important to meet with our shareholders to discuss the business environment, our growth amidst challenging macro conditions, and the group’s strategic plans,” Viljoen said.
FMBCH provides banking and finance solutions through its operating subsidiaries in five southern African countries: Malawi, Mozambique, Zambia, Botswana and Zimbabwe.
The group has a total asset base of over $1.5 billion, employs over 1,900 staff, and services the financial needs of customers across Africa.