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FMB Holdings plc Reports 67% Profit Increase for the First Half of 2023

FMB Holdings plc (FMBCH), the holding company for First Capital Bank, announced a remarkable profit increase in their financial results for the first half of 2023, writes Mayamiko Phiri (The AfricaBrief)..

The company reported a profit after tax of US$42 million over the six months ending on June 30, 2023, marking a significant rise of 67% compared to the same period last year when the interim profit after tax was US$25 million.

These robust financial results for the first half of 2023 follow the company's already impressive full-year performance in 2022, which yielded a profit after tax of US$61.2 million, demonstrating substantial growth in its financial performance.

FMBCH's Group Chief Executive Officer, Jaco Viljoen, made these announcements during an investor roundtable hosted at their head office in Blantyre on Monday, October 30th.

During the roundtable, Viljoen underscored the importance of engaging with their customers and shareholders, saying, "It is important to meet with our shareholders to discuss the business environment, our growth amidst challenging macro conditions, and the group's strategic plans."

FMB Capital Holdings plc is a Mauritius-based holding company for the FMB Capital Group, which provides banking and financial solutions through its operating subsidiaries in five southern African countries, namely Malawi, Mozambique, Zambia, Botswana, and Zimbabwe.

With a total asset base of over US$1.5 billion, the group employs more than 1,900 staff members and serves the financial needs of customers across Africa.

This substantial increase in profit reflects the group's continued commitment to growth and excellence in their operations, despite economic challenges, positioning FMB Holdings plc as a leading financial institution in southern Africa.

 

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Last modified on Tuesday, 31/10/2023

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