FDH Bank Plc has reached a significant milestone, achieving a market capitalization of K1.03 trillion on the Malawi Stock Exchange (MSE) within four years of listing.
As of August 12, 2024, the bank’s share price stood at K149, representing a remarkable growth rate of 1,390% from its initial public offering (IPO) price of K10 in 2020.
This achievement positions FDH Bank as the third counter on the MSE to attain a market capitalization of over K1 trillion, among the 16 listed counters.
Commenting on this development, Levie Nkunika, Head of Marketing and Communication at FDH Bank, stated: “We are pleased with this milestone, which underscores our commitment to delivering value to our stakeholders, particularly our investors. Our focus on providing innovative financial solutions through strategic investments in technology, processes and our people has driven our growth and competitiveness. In addition, the Bank is future ready.”
Nkunika emphasized the bank’s dedication to exceptional customer service, strategic expansion, and sustainability initiatives, expressing gratitude to investors and customers for their confidence in FDH Bank.
In its latest dividend declaration, the bank announced a first interim dividend of K13.043 billion, representing K1.89 million per share, following a reported profit after tax of K27.9 billion for the half-year ended June 2024.
As a leading digital bank, FDH continues to innovate and expand its services, including the recent introduction of Sharia-compliant banking and its expansion to Likoma Island, solidifying its position as the only commercial bank present in all districts of Malawi.