FDH Bank plc has reported a strong financial performance, with a profit after tax of K74 billion for the financial year ending December 31, 2024. This represents a 108% increase from K35.6 billion in 2023.
The bank’s annual results were unveiled at the TFM Centre of Excellence in Blantyre during its Investor Forum, where the management team outlined its strategic direction amidst a challenging economic environment.
FDH Bank Managing Director Noel Mkulichi attributed the growth to a combination of staff empowerment, operational efficiency, and targeted customer focus.
“In 2024, the environment was very challenging, but we took up the challenge, and that is what drove this strong performance,” Mkulichi said. “And looking ahead, staff development is one of our strategic pillars. That means upskilling our staff, but also relying on their commitment.”
He highlighted the Bank’s continued investment in digital platforms and innovations aimed at improving turnaround times and service delivery. “We are upgrading our systems and delivery channels. We believe that will help us move forward. It’s about operating efficiently and meeting customer needs.”
About inflation, he noted that the rising costs were already affecting the Bank’s operations. “When inflation goes up, business costs go up too. We need to ensure we contain costs while maintaining performance,” he stated.
Board Chairperson Charity Mseka described the outlook for 2025 as a “mixed bag,” acknowledging that while growth is achievable, the broader economic terrain remains uncertain.
“You will appreciate that there are still challenges in the economy, particularly forex availability and inflation, but we always strive to take up the challenges. If we maintain this trend, the future looks very bright,” said Mseka.
She emphasized the Bank’s readiness to support sectors with high growth potential. “It is allowing us to partner with those venturing into agriculture, mining, and other productive sectors. We are ready to finance businesses that can transform the economy,” she said.
FDH Bank’s inclusive banking initiative, Salama Banking, was also discussed during the forum. Mseka said the product, which targets informal and underserved market segments, is “faring very well,” but pledged to continue community engagements to raise robust awareness about the facility.
Commenting on the financial performance of the financial institution, Joe Maele, a member of Minority Shareholders of Listed Companies, Joe Maele praised the Bank’s transparency and inclusive engagement.
As the economic environment remains unpredictable, FDH Bank’s leadership says it is focusing on strategic risk management, efficiency, and expanding access to finance.
With strong financials, growing product portfolios, and expanding community banking initiatives, FDH Bank says it is poised to navigate the uncertainties ahead while remaining committed to innovation and inclusive growth.
