Despite the economic instability that has characterized the year, FDH Bank plc has announced that it expects its profit for the year ending December 31, 2024, to surge to between K59.2 billion and K62.5 billion.
This represents a remarkable 66 per cent to 75 per cent increase from the K35.6 billion reported in the previous period last year.
According to a statement released by Company Secretary Juliano Kanyongolo, the bank’s financial performance for the year 2024 is expected to exceed that of the previous year by a significant margin.
The summary consolidated and separate financial statements of the bank for the year ending December 31st, 2024, will be published later.
“In terms of the Listing Requirements of the Malawi Stock Exchange, a listed company is required to publish a Trading Statement as soon as there is a reasonable degree of certainty that the financial statements for the period to be reported upon will differ at least 20% from that of the previous corresponding period,” said Kanyongolo.
Kanyongolo highlighted that the information on which the trading statement is based has not been reviewed and reported on by the external auditors of FDH plc.
Earlier this year, the Malawi Stock Exchange-listed bank announced a substantial profit-after-tax increase of 55% from K22.932 billion to K35.467 billion last year.
