Feb 22, 2018 Last Updated 8:07 AM, Feb 22, 2018
×

Warning

JFile: :read: Unable to open file:

Standard Bank Malawi Incurs Losses

The bank attributes the loss to the 22 percent increase in operating costs due to general increase in prices of goods and services The bank attributes the loss to the 22 percent increase in operating costs due to general increase in prices of goods and services Image sourced at standardbank.co.mw
Published in Business News
Read 5768 times
Rate this item
(1 Vote)

Malawi Stock Exchange (MSE) listed Standard Bank has posted a 15 percent decrease in profits from MK9.63 million in the first half of last year to MK8.1 million in the first half of 2017.

The development is attributed to the 22 percent increase in operating costs due to general increase in prices of goods and services.

In a published audited report, the Bank representatives point out that due to a challenging operating environment characterised by high interest rates, credit impairments were significantly higher than the same period last year.

Standard Bank continues to focus on robust credit risk management to avert future non-performing loans and places emphasis on recoveries of written off loans.

Despite the decrease in profits, the reports indicate that the Bank, registered strong performance in the first half emanating from a strong asset base and effective balance sheet management.

The Standard Bank of Malawi (previously known as the Commercial Bank of Malawi) is a national bank in Malawi. 

The bank registered as a commercial bank on 15 March 1969. Initially it began with K2.5 million and the founder shareholders were the Malawi Development Corporation (20%), Press Holdings Limited (20%) and Banco Pinto Sotto Mayor (60%). The first branch was opened in Limbe on 11 April 1970.

In June 1998, the company's stock was listed on the Malawi Stock Exchange after a successful IPO.

1558 comments

  • Comment Link Angelia Angelia Monday, 19 February 2018 05:33

    Discover tree removing companies and companies.

  • Comment Link Angelia Angelia Monday, 19 February 2018 05:33

    Discover tree removing companies and companies.

  • Comment Link Hwa Hwa Monday, 19 February 2018 01:01

    She was Jane, Madame Deville's house maid.

  • Comment Link GnaDrids GnaDrids Monday, 19 February 2018 00:30

    Hi
    pay day loans
    quick loans bad credit
    [url=https://getaloan.us.org/] cash advance online[/url] OK’

  • Comment Link Henryrough Henryrough Saturday, 17 February 2018 13:53

    cheap cialis pharmacy rx one review Rhine Inc India Tadalafil cialis without a doctors prescription canadian pharmacies cialis cialis without a doctors prescription rx express online amoxicillin 500 mg for sale buy tadalafil generic generic levitra professional 20 mg

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Any data to display

Find Us on Facebook