CDH Investment Bank posted a K23.534 billion profit-after-tax for the financial year ended December 31, 2024, a published summary of audited results has shown.
This represents a 111 percent jump in profit from K11.141 billion the bank reported in 2023.
During the period under review, the bank’s total assets grew by 72 percent from K311 billion to K536 billion.
Customer deposits grew by 27 percent year-on-year while the bank’s loans and advances grew by 28 percent.
Investment funds and financial assets grew by 161 percent and 160 percent, respectively.
Net interest income grew by 100 percent while non-interest income grew by 36 percent to K15.8 billion in 2024.
Overall, net revenue grew by 76 percent, according to the statement signed by CDH Investment Bank Board Chairperson Franklin Kennedy, Chairperson of the Board Audit Committee Sydney Chikoti, Chief Executive Officer and Managing Director Thoko Mkavea and Chief Finance Officer Kelvin Mkulichi.
“The leading specialist bank in Malawi continues to successfully leverage its unique proposition to integrate investment banking with traditional commercial banking activities to deliver impressive value to its stakeholders, generating an impressive return on shareholders’ equity of 52 percent,” the report reads.
It says operating expenses grew by 40 percent year-on-year.
Looking ahead, the bank says it expects inflation and interest rates to stabilise at the current levels.
“However, these prospects could be blurred in the event of fiscal slippage because of increased government spending and adverse weather-related shocks, among other things.
“The outlook could also be dependent on the prospects of renewal of the IMF-supported ECF [Extended Credit Facility] programme, which could determine the rate of foreign currency flows to Malawi, affecting the importation of critical raw materials,” the bank says.
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