FMB Capital Holdings Plc, the holding company of First Capital Bank, has announced an 11% increase in profit after tax (PAT) to USD 46.8 million for the first half of 2024.
According to the results, in the six months to 30 June 2024, FMB Capital Holdings Plc successfully navigated a difficult economic environment to record a profit after tax of USD 46.8 million and deliver a 12-month rolling return on average equity (ROE) of 36%.
The Group’s total operating income grew by 6% to USD 128 million, driven by a 4% increase in customer loans and advances to USD 729 million. Customer deposits also rose by 8% to over USD 1.23 billion.
Terence Davidson, the Group Chairman, stated: “The Group’s strategy remains growth-oriented, with sustained impetus to build into a significant regional bank with a diversified portfolio of corporate, business and consumer banking solutions, complemented by relevant treasury activities.”
The Group’s subsidiaries performed positively in their respective markets, with notable contributions from Botswana, Malawi, Mozambique, Zambia, and Zimbabwe.
The Board of Directors has since resolved to pay an interim dividend of USD 5,162,325, equivalent to 0.21 US cents per share. The interim dividend will be paid on or about October 9, 2024, to shareholders.
Jaco Viljoen, FMBCH Group Managing Director, expressed commitment to delivering superior client experience, building sustainable solutions to deliver against the Group’s strategy and investing in clients and digital capabilities that will support continued business growth.
He said the achievements underscore the FMBCH Group’s robust governance and strategic capabilities as the Group remains well-capitalised across its geographies.
