FBC Holdings Limited (FBC) says it achieved a profit before tax of $12,2 billion and an after-tax profit of $8,1 billion on the back of its adaptation, resilience and tenacity in what it termed a volatile operating environment for the six months ended June 30, 2022.
The diversified financial services group mentioned the hyperinflationary environment, exchange rate devaluation and the impact of geo-political developments in Eastern Europe as significant factors weighing down on the local economy. Group chairman Herbert Nkala said both fiscal and monetary policy authorities face a mammoth task of continuously addressing macro–economic adversities on the back of an unfolding global recession.
Herbert Nkala, OK’s board chairman
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