Preparations to list the bank on the MSE this year are on track and progressing well, according to FDH Bank’s a statement accompanying financial results for the year ended December 31, 2019.

The listing on Malawi Stock Exchange (MSE) will be  a fulfillment of the agreement that the bank made with the Malawi Government, when it acquired an 80% stake in the then wholly-owned government financial institution Malawi Savings Bank (MSB), would bring the number of banks on the shares market to five, thus offering a diversified portfolio to investors.

On the other hand,  FDH Bank posted an after-tax profit of K7.84 billion, up from a profit after-tax of K5.96 billion in 2018, representing 32 percent growth while total income also grew by 18 percent from K29.066 billion to K34.389 billion. The development is despite a tough year marred by post election tension, which negatively affected various businesses. Overcoming the chaos and posting such a profit, minority shareholders are excited about the upcoming listing.