By Burnett Munthali
CDH Investment Bank has recorded a remarkable profit after tax amounting to K23.534 billion for the financial year ending December 31, 2024.
This impressive financial performance underscores the bank’s continued growth and resilience in Malawi’s competitive banking sector.
According to a summary of the bank’s audited accounts for the period, the year under review witnessed a significant expansion in total assets.
The bank’s total assets surged by 72 percent, growing from K311 billion in 2023 to K536 billion in 2024.
This asset growth reflects strong balance sheet management and an increase in the bank’s operational scope.
Additionally, customer deposits registered a healthy year-on-year growth of 27 percent, indicating increased customer confidence in the bank.
The bank’s loan book also experienced notable expansion, with loans and advances increasing by 28 percent during the same period.
Net interest income, a major driver of the bank’s profitability, doubled in 2024, representing a 100 percent growth over the previous year.
This growth points to improved lending practices, higher asset yields, and more efficient management of funding costs.
Non-interest income also contributed significantly to the bank’s earnings.
The bank recorded a 36 percent growth in non-interest income, which rose to K15.8 billion in 2024.
This category includes income from fees, commissions, and trading activities, showing diversification in revenue streams.
Overall, the bank’s net revenue grew by an impressive 76 percent.
This growth in net revenue illustrates the bank’s ability to leverage its operational strengths to generate income across multiple fronts.
The financial summary presenting these results was officially endorsed by the bank’s top leadership.
The endorsement came from the Bank’s Board Chairperson Franklin Kennedy, Chairperson of the Board Audit Committee Sydney Chikoti, Chief Executive Officer and Managing Director Thoko Mkavea, and Chief Finance Officer Kelvin Mkulichi.
Their signatures on the financial statement reinforce the institution’s commitment to transparency, accountability, and sound corporate governance.
The performance of CDH Investment Bank in 2024 positions it as a key player in Malawi’s financial services industry.
The significant profits and growth metrics also demonstrate the institution’s strategic direction and ability to adapt to evolving market dynamics.
The bank’s financial results will likely inspire continued investor confidence and open the door for further innovation and expansion in the coming years.
