Authorities at Standard Bank have disclosed that the institution has generated K13.5 billion profits in the 2015/16 financial year.
Confirming the development, Standard Bank Malawi chief finance officer Temwani Simwaka said the bank has registered a jump from K10 billion in the year 2014/15 to K13.5 billion this year.
“Things have gone well with us, we managed to have such profit in the situation that the country is going through and we hope that when things are to continue working better in the future,” said Simwaka.
He further said that the bank is to release K3 Billion to its shareholders this year compared to K2.5 billion given last financial year.
Simwaka said one of the reasons for the hike in profits is that the bank has reasonable number of shareholders that help it.
The bank was registered as a commercial bank on 15 March 1969. Initially it began with K2.5 million and the founder shareholders were the Malawi Development Corporation (20%), Press Holdings Limited (20%) and Banco Pinto Sotto Mayor (60%).
93 thoughts on “Standard Bank makes K13.5bn profit”
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Amangotibera ndalama zathu awa….how come to make all these profits?
Zitsilu Nzimene Zimasungisa Ndalama Zawo Kumene Nde Muzifuse Kut Zapeza Ma Profit Angati Ango Zipanga Sekamusaizi Bas
Can you please build toilets aside ur banking halls and recruit mo staff to speed up ur service delivery
i beg u man of god i need money send mi on 0997316478
Mbava zapeza formula
Is it a fair profit from justified transanction? Where do the proceeds from profits go? I am certainly sure that majority of Malawians are suffering at the hands of these huge profits.
Amanyengelera anthu awa kuti utsegule account ndi iwo cholinga kufunu kuba eti!!!!!!!!!!!!! mbava izi sindikatsegulako ndipo sindizachitenso ine zanga ndimakumbira pansi sha!!!!!
Mbava za ma bank
Mbava za ma bank
Kunena zowona ma bank anthu akuno ku malawi amatibera kwambiri.
Kunena zowona ma bank anthu akuno ku malawi amatibera kwambiri.
Tizingosawukirasawukilabe,bola Our Money Kumangosunga Panyumba Mumphika