The Malawi Stock Exchange listed Standard Bank Plc has post a 39.2 billion kwacha net profit in 2022.
The figure is a 58 % profit jump from 24 billion kwacha in 2021 according to financial statements cosigned by Chairperson Ngeyi Kanyongolo and Chief Executive Officer Phillip Madinga.
This performance has been achieved despite operating in a challenging environment due to adverse factors including market wide forex scarcity and high inflation rates.
Total revenue grew by 40% year on year driven by growth in both net interest income and non-interest revenue.
During the year, the bank’s loans and advances to customers and financial investments grew by 14% and 99% respectively which bettered its net interest income by 49%.
The way Charles Mchacha is castigating the Leader of Opposition in Parliament, Hon Kondwani Nankhumwa, is just testimony enough that Read more
If you thought Malawians are lazy people, I bet you a Dinosaur, think twice and you will know, check in Read more
The recent arrest in Malawi of three opposition politicians accused of planning to unseat President Peter Mutharika is dissent from Read more
The US embassy has denied involvement in an alleged plot to overthrow the president, Peter Mutharika. Analysis Media reports that Read more