FDH BANK NOW HAS 100% MALAWIAN SHAREHOLDERS

Date:

FDH holdings Limited bought the shares that were owned by South African investors after the local authorities disqualified them from running a commercial bank.
Speaking in an interview with MIJ FM, FDH bank’s chairperson Thomson Mpinganjira said the shareholding issue was finalized last year and it will not affect the bank’s operations.
Mpinganjira however said the development will mean the bank is now owned by locals which will have a positive impact to the development of the country.
Mean while Mpinganjira disclosed the share holders’ injection of 4.8 million USD -about 10 billion kwacha to FDH bank in form of capital.
Shareholders invested such amount in compliance to the reserve bank’s Basel 2 standards- principles outlined to make commercial banks more secure by having in deposit, extra funds to cushion its activities in time of crisis.
“The investment follows this animal called Basel 2 which has seen all commercial banks wanting in terms of capital requirements and we are delighted to have been complied.
“Almost all commercial banks have been working to comply with this requirement and as FDH Bank, we weren’t late.” said Mpinganjira.
Mpinganjira, a successful business man, however described this requirement as not a burden to banks, saying the funds are meant for risk management.

Subscribe to our Youtube Channel:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Featured Video

click to play

Popular

More like this
Related

Who Will Replace Elon Musk as Twitter CEO?

  https://unsplash.com/photos/9Z-2Ktg6CIM Elon Musk to resign as Twitter CEO After Replacement...

Avoid Excessive Intake Of These 3 Things If You Want To Live Longer

Diseases of the kidney rank among the top 10...

Sad As Woman Dies One Month After Her Wedding (See Photos)

A Nigerian woman, Rahama Asma'u, has died barely one month after...

Kabambe takes his Presidential ambitions to delegates ahead of DPP convention

DPP's Presidential aspirant Dr Dalitso Kabambe said his vision...