Malawi’s leading home-grown commercial bankers, Malawi Stock Exchange listed FDH Bank plc has invested K6 billion for the past five years in the corporate social responsibility (CSR) activities through its FDH Cares initiative.
This huge investment, has impressed the Parliamentary Committee on Social and Community Affairs, who have lauded the Bank for its benevolence and a good heart for the communities in the country.
FDH Financial Holdings Limited Chief Executive Officer (CEO), William Mpinganjira disclosed this on Monday when the Bank hosted the Parliamentary Committee on Social and Community Affairs for an appreciation tour of its CSR activities.
Mpinganjira, and FDH Bank Plc Managing Director, Noel Mkulichi took the committee members to the Oncology High Dependency Unit at Queen Elizabeth Central Hospital which is supported by the Bank, and the Paediatric Intensive Care Unit at Malamulo Adventist Hospital that the Bank refurbished.
“Our CSR focuses on the economy, social affairs, education, sports, health, and the environment, among others, not to demonstrate abundance or compliance but to care for the community,” said Mpinganjira.
In his remarks, Committee Chairperson Savel Kafwafwa underscored the importance of the interaction saying the committee is mandated to ensure that people, including vulnerable groups, live happily.
“We applaud FDH Bank for its commitment to CSR, focusing on supporting vulnerable and marginalized communities,” said Kafwafwa.
The Committee also toured nine houses FDH Bank plc is constructing for Cyclone Freddy victims in Mussa Village, Chiradzulu.
FDH Bank, also FDH Bank Limited, is a commercial bank in Malawi.
It is one of the commercial banks licensed by the Reserve Bank of Malawi, the central bank and national banking regulator.
The headquarters and main branch of FDH Bank Limited are located on the First Floor of Umoyo House, at 8 Victoria Avenue North, in the city of Blantyre, the financial capital of Malawi.
As of 31 December 2019, the total assets of FDH Financial Holdings, the holding company of the bank, were valued at MWK:218.2 billion (approx. US$303 million), with shareholders’ equity valued at MWK:22.4 billion (approx. US$31.1 million).
FDH bank was founded in 2008, by Malawian business mogul Thompson Mpinganjira, as a subsidiary of FDH Financial Holdings Limited (FDHFHL), a financial holding group, formed in 2007 to replace First Discount House Limited (FDH).
In July 2015, FDH Financial Holdings Limited successfully acquired 75 percent ownership of Malawi Savings Bank, together with its subsidiary MSB Forex Bureau Limited.
In July 2016, FDH Financial Holdings Limited completed the merger of FDH Bank Limited and Malawi Savings Bank Limited (MSB). The merged bank adopted the name FDH Bank Limited.
The merger of the two banks culminated in the merger of FDH Money Bureau Limited and MSB Forex Bureau Limited. The merged entity adopted the name FDH Money Bureau Limited.
“Our CSR focuses on the economy, social affairs, education, sports, health, and the environment..”
William Mpinganjira
FDH Financial Holdings Limited Chief Executive Officer
