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CDH Investment Bank announces K11.1BN profit

CDH Investment Bank has made K11.140 billion profit after tax for the financial year ending December 31, 2023.

According to a summary of audited results for the bank, this is a 48 percent increase in profit compared to 2022 when it realised K7.53 billion it reported in 2022.

The audit summary indicates customer deposits grew by 42 percent while the bank’s loans and advances grew by 34 percent.

Investment funds and financial assets grew by 42 percent and 40 percent respectively.

Thoko Mkavea, CDHIB Chief Executive Officer

“In addition, there was a 76 percent increase in non-interest revenue from K6.6 billion to K11.6 billion. Overall net revenue grew by 50 percent. During the period under review, the bank’s total assets grew by 42 percent from K219 billion to K311 billion,” the summary reads in part.

CDH Investment Bank was established in 2012 as a conversion from Continental Discount House Limited.

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