Published financial statements by FDH Bank show a slight profit drop of K3.22 billion in the half-year ended June 30 2020, from K3.35 billion in the same period last year.

The statements, signed by managing director Elias Ngalande, said the bank continues to put more focus on effective cost management as we continue to bring down the cost-to-income ratio. In the year under review, the FDH Bank’s total assets increased by 19% pushed by an increase in loan book by 10%, government securities by 17% and placements with other banks by 81%.

Meanwhile, the Bank is preparing to enlist on the Malawi Stock Exchange, offering 1.38 billion shares at K10 per share through an initial public offer (IPO) to allow the public to own 20% stake in the bank. The offer will remain open until Friday this week. FDH Bank will be the second firm this year to list on the local shares market after Airtel Malawi plc listed in February.