Standard Bank has registered a profit after tax of K42.4 billion during the first half of this year, a 57 percent increase from the same period last year.
According to the bank’s financial statement, its total revenue grew by 24 percent year-on-year, primarily driven by a 45 percent growth in net interest income.
Speaking in Lilongwe at an investor conference, the bank’s Head of Personal and Private Banking, Charity Mughogho, said this shows the bank’s resilience.
“The group’s revenue increased, cost growth was effectively controlled below inflation, and the balance sheet strengthened through robust funding, leading to enhanced profitability.” She said.
Standard Bank is among the financial institutions in Malawi that are listed on the local stock market with a market capitalisation of over K1 trillion.
