FMB Capital Holdings Plc which operates First Capital Bank, has made USD61.2 million (about K62 billion) profit after tax, a 51 percent increase from the last year’s profit.
This was disclosed on Monday 19th June, 2023 during the company’s Annual General Meeting (AGM) which was held at First Capital Bank offices in Blantyre.
Speaking at the event, FMB Capital Holdings Chief Executive Officer Jaco Viljoen, attributed the success to excellent service provision from all the countries which they operate from including; Malawi, Zambia, Zimbabwe, Mozambique and Botswana.
Viljoen while revealing that the country through First Capital Bank Malawi has been the biggest contributor of the success as it have the biggest shareholding, said the profit is great news to the company considering the economic hardships which spared no country.
“I can attribute it to the good contribution from all of our countries. We are in five countries in Africa; Botswana, Malawi, Mozambique, Zambia and Zimbabwe and we have seen constant growth in all of them and all of them contributed to the growth, which is quite excellent.
“Malawi is our biggest contributor in dollar terms, First Capital Bank Malawi, but we have also seen the excellent growth in Mozambique. But it’s very unfair for me to appreciate one country, but we are very grateful for Malawi for being the biggest and that is also where we have the more shareholders,” said Viljoen.
One of the shareholders Frank Harawa whoq is the Secretary General of Minority Shareholders Association of Listed Company (Misalico), commended the FMB Capital Holdings management for what he described as great performance for the year 2022.
Harawa said this year’s performance is what every FMB Capital Holdings shareholder has been looking forward to and added that the performance has turned a lot of Malawian shareholders into millionaires.
“As shareholders of FMB Capital Holdings, we are very happy. We were looking for this and now it has come to pass. Even the share price on the market, has seriously gone up to K218, it has made many Malawians to be rich. We are very happy,” said Harawa.
The shareholder was also optimistic that the share price for the facility will keep on going higher claiming the public listed company’s paying of K4 per dividend saw a great reaction on the market and will keep on doing so.
Follow us on Twitter:
