The Group's subsidiary banks located in
The group said its combined Net Profit before Tax for the 2020 full year grew to
"The company's financial performance in 2020 was robust as we made significant progress in growing and optimizing our Group's operations. Despite the challenges from the Covid-19 pandemic and flow on to a slowdown in economic activity, we remained not only open for business but continued with even greater resolve to offer and deliver new and innovative digital and customer service enhancements" said
In the period under review Net Interest for the Group grew by 18% to
"The performance of the
"We are making good strategic progress through disciplined emphasis on our Performance, People and Purpose priorities. Our expectations for the Group in 2021 are positive although we remain cautious of the Covid-19 pandemic which has caused economic uncertainty, not only in the markets that we operate in, but globally as well."
"Our focus as a Group remains on delivering premium value for our customers, employees, and shareholders. We will continue to innovate and evolve our operating model to be more flexible and provide our clients with a banking experience that truly meets their financial aspirations. We therefore look forward to executing at an encouraging pace and momentum as we optimize our cost structures, increase our liquidity, and strengthen our balance sheet, adding value to our Group and valued stakeholders" explained Gursahani.
In 2020 FMBCH celebrated its 25-year milestone in business after being granted the first private sector commercial banking licence in
"Over the years the Group acquired banks in adjacent SADC countries and today, it is a strong regional bank with a solid track record of financial strength and stability. Currently the Group has over
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