FBC Holdings’ (FBC) say its loan book grew by 228 percent to $1,5 trillion during the first six months of 2023.
In a statement accompanying results, the financial services group’s chairman, Herbert Nkala said banking subsidiaries’ focus was supporting customers across major sectors of the economy.
“Efforts are also underway to mobilise funding at an affordable cost through lines of credit and other institutional depositors and investors,” he said.
Meanwhile, the group’s inflation-adjusted income was up by 318,88 percent to $853,97 billion from $203,86 billion in the comparative period. This was attributed transactional, investment and hedging activities.
“Over 80 percent of the group’s assets and core revenues are in foreign currency and this position is expected to subsist until the end of the year.”
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