FDH Bank unveils new strategy to respond to economy

FDH Bank plc board chairperson Charity Mseka says the bank’s new strategy will respond to the country’s uncertain and volatile business environment.

In a statement during the bank’s 17th Annual General Meeting (AGM) held in Blantyre on Friday, she told shareholders and other delegates that the strategy runs from 2024 to 2026 under the theme ‘Customer-centric innovation designed to foster adaptability, resilience, agility and sustainable growth’.

Said Mseka: “The strategy, anchored by four strategic pillars of customer focus, operational efficiency, people development, and continuous innovation, aims to make FDH Bank a significant enabler providing easily accessible and relevant financial solutions to both the private and public sectors of the economy, thereby significantly contributing towards the attainment of Malawi 2063.”

She said the Malawi Stock Exchange-listed bank’s commitment to customer-centricity financial solutions remains unwavering.

During the AGM, Mseka confirmed the financial results for the year ended December 31 2023 which showed that the bank reported a 55 percent increase in profit to K35.6 billion from K22.9 billion the previous year.

A member of the Minority Shareholders Association of Listed Companies, Joe Maere, said the performance of FDH Bank in the year under review has been outstanding.

“We are happy with the performance thus far and we hope that going forward, the bank will maintain the momentum,” he said.

During the AGM, the shareholders approved a final dividend of K7.39 billion or K1.02 percent per share.