Business and Finance

FCBCH performance excites shareholders

By Chimwemwe Mangazi Posted: 28 Jun, 2024 | Updated at: 04 Dec, 2024 96 Source: Times of Malawi 0
FCBCH performance excites shareholders

Shareholders of Malawi Stock Exchange (MSE) listed FCB Capital Holdings (FCBCH) have lauded the company for employing a sound investment and growth strategy that is culminating in increased profits for its banking business in the Southern African region.

This came out during an investor engagement forum held at its head offices in Blantyre Thursday.

The company has posted a profit of $78.8 million for the year ended December 2023 from $61 million reported in 2022. This represents a 29 percent jump in profits for the company.

TINTO—The company will be bigger than it is now

One of FCBCH shareholders who attended the meeting, Lovemore Tinto, said the company has portrayed a good image to shareholders that it is determined to grow.

“The company has put up strategies that in a few years to come, it will be bigger than it is now. As a shareholder, I would say it is on a good track.

“The dividend that it has declared in the previous year is very positive and the strategies that it has made and produced to us today, it shows in the near future, we will produce more profits than ever before,” Tinto said.

FMB Capital Holdings Group Chief Financial Officer Mythri Sambasivan-George said the 2023 performance has given the company a return on equity of 38 percent which is quite healthy.

“We attribute the performance to us having a unified strategy across the group. We’re focusing on customer experience in corporate, commercial and retail sectors. We’ve invested heavily in our shared services, in our resourcing in countries. We train our 2,000 staff to make sure that for every role that they do, they do it well. We’ve launched new values. We’ve also focused more on giving customers what they want and listening to them while operating as efficiently and as compliantly as we possibly can,” Sambanivan-George said.

The company is expected to hold its annual general meeting today.

FM Capital Holdings is a Mauritius-based holding company of the FMB Capital Group. It has banking and finance operations in five Sadc countries namely, Botswana, Malawi, Mozambique, Zambia and Zimbabwe.