FDH Bank has handed over a K14 million house to Marieta Samuel, a Dowa woman who had her hands chopped off by her abusive husband in 2006.
Deputy Managing Director for FDH Bank, William Mpinganjira, said on Saturday during the handover of the house that as a homegrown bank, FDH Bank takes keen interest in the welfare of Malawians through various initiatives especially in areas of health, education and youth development.
In building a financial empire in Malawi, Thomson Mpinganjira FCCA, CEO of FDH Financial Holdings, has taken the country’s finance infrastructure to a whole new level.
ACCA has a lot to answer for, according to Thomson Mpinganjira FCCA. ‘Everything I have done in my career in some way goes back to my ACCA Qualification and my early training with Deloitte,’ he says. ‘These two institutions shaped my life.’
Those valuable early lessons he learnt have been turned into some astonishing firsts. An accountant turned stockbroker, Mpinganjira set up the Malawi Stock Exchange in 2000, served as its first CEO, and in 2008 opened his own commercial bank, FDH Bank, headquartered in Blantyre, Malawi’s second biggest city. The group chief executive of FDH Financial Holdings, he is one of the leading Malawian business figures of his generation.
Fast growing local commercial bank FDH has set aside K150 million for students scholarships in tertiary institutions in the country.
Speaking at a luncheon to announce the scholarships on Wednesday, FDH Holdings Chief Executive Officer Dr Thomson Mpinganjira said the financial institution remains highly committed to supporting the education sector and will continue to support efforts that advance development in the country.
“The quest for national growth was the motivation for FDH Bank to enter into an agreement with the various educational institutions. These institutions are an integral component in shaping the future of this nation, and the bank feels privileged to have a rewarding working relationship with institutions of such standing,” said Mpinganjira.
Katoto primary schools reigned supreme when they won the FDH bank sponsored Mzuzu Mayor’s Trophy in both netball and football categories at the weekend.
In the netball finals Katoto easily saw off Kaviwale primary school with 15 baskets against 8 and in football Katoto edged St Peters Primary school 1-0 to claim a double of the Mayor’s trophy.
FDH Bank sponsored the Mzuzu Mayor’s trophy to the tune of K6 million. The bank also sponsored similar trophies in Lilongwe, Blantyre and Zomba at K10.8 million each.
For winning the football trophy, Katoto received a trophy, K200,000 cash, a full football uniform comprising of jerseys, shorts, boots and socks while St Peters as loosing finalists got K150,000 cash, full uniform comprising of jerseys, shorts, boots and socks.
FDH Money Bureau and Western Union took advantage of the Malawi, Morroco African Qualifiers match on 22 March to popularize their partnership on provision of money transfer services.
The two institutions have signed an agreement to allow local Malawians and expatriates working in the country to send money abroad instead of just receiving through Western Union.
FDH Money Bureau Acting General Manager Daniel Pinto Khamula said in an interview with Nyasa Times that for a long time Malawians and expatriates working in the country were limited to only receiving money from their loved ones abroad through Western Union.
FDH Financial Holdings has posted a K7.8 billion after-tax profit for the year ending December 31 2018 compared to K94.6 million reported in 2017.
The performance is partly attributed to bouncing back to profitability of the firm’s subsidiary, FDH Bank, in 2018 when it posted an after-tax profit of K5.965 billion from a loss after tax of K1 billion in 2017.
A statement of financial results for the period shows that FDH Financial Holdings Limited registered a 28 percent total income growth from K25.2 billion to K32.3 billion.
However, Net Interest Income dropped by 7 percent on the back of significant cleaning up of non – performing Loan book. non – interest income grew by 50 percent.
FDH Bank has donated K13 million towards flood relief after 56 died and thousands of people were displaced due to flash floods especially in the southern part of the country last week.
Head of Human resources at FDH Bank, Crispin Chikwama said after donating the cheque and some items in Blantyre Monday that the bank is extending a heartfelt helping hand to the areas that have been affected by the floods.
“The heavy rains that took over the nation about a week ago left many families destitute as they were stripped of their belongings and now lack the simple necessities to survive. Our deepest condolences to those who lost loved ones in these terrible floods,” said Chikwama.
Mponda and Police Primary schools emerged victors in the just ended FDH Bank sponsored Zomba Mayor’s trophy in football and netball respectively.
Mponda Primary school beat Prison Primary school 2-1 in football while Police Primary School beat Thundu primary school 16-15 to be crowned netball champions of Zomba.
Speaking during the finals played at the Police College grounds in Zomba on Thursday, FDH bank Deputy Managing Director William Mpinganjira said the bank takes pride in supporting growth saying the Zomba Mayor’s Trophy will make the primary school pupils grow in sports and academic life.
FDH Bank has pledged continued investment in digital products and other distribution channels to improve customers’ experience as well as diversifying sources of non-interest income.
In a statement accompanying audited financial results for the year ended December 31, 2018 jointly signed by the FDH Bank's Managing Director Eric Ouattara and Board Chairperson Arthur Oginga, the bank said notwithstanding the investment in the digital platform, operating expenses grew by 13 percent when compared to the same period last year.
One of the country’s commercial banks, FDH Bank, has said it is pleased with how Malawians have embraced its Ufulu Digital Account.
FDH Bank Head of Personal and Business Banking, Kawawa Msapato, said this in Blantyre on Friday when the bank presented K1 million grand prize to Maito Club, which emerged the overall winner of the bank’s Kutcheza Makwacha Promotion.
The promotion saw 34 people walking away with prizes by opening an Ufulu Digital Account and saving a minimum of K20, 000.