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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

FMBcapital

FMBCH · Malawi Stock Exchange · Consolidated statements

On this page
Company details
Legal name
FMBcapital Holdings Plc
Listing
FMBCH on the Malawi Stock Exchange, active · ISIN MWFMB0010138 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

Source and wording notes

  • Auditor's report, year to 2023-12-31: qualified opinion ('except for')

    The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. Basis for Qualified Opinion: a Zimbabwean subsidiary changed its functional currency from ZWL to USD with effect from 1 January 2023, although the IAS 21 criteria were not met before the last quarter of 2023; IAS 29 should have continued to be applied until the end of the third quarter. The departure from IFRS would cause foreign exchange gains or losses and net monetary loss in the consolidated statement of profit or loss and OCI, and total equity in the consolidated statement of financial position, to be materially misstated; the impact has not been quantified because the subsidiary's records were kept in USD from 1 January 2023 (PDF p8).

    Source: FMBcapital Holdings Plc 2023 Annual Financial Statements for the year ended 31 December 2023, p8 (dated 2024-05-31)

  • Auditor's emphasis of matter

    Other matter: the statements are prepared under the requirements of the Malawi Stock Exchange (IFRS and the ICAM IAS 29 Directive); the Company prepared another set of consolidated and separate financial statements under IFRS for statutory purposes under the Mauritius Companies Act 2001, on which a distinct opinion will be issued (auditor's report, PDF p11).

    Source: FMBcapital Holdings Plc 2024 Annual Financial Statements for the year ended 31 December 2024, prepared under Listing Rules of Malawi Stock Exchange (dated 2025-04-23)

  • Auditor's emphasis of matter

    Other matter: the 2022 consolidated and separate financial statements were audited by another auditor, who expressed an unmodified opinion on 17 May 2023 (PDF p11).

    Source: FMBcapital Holdings Plc 2023 Annual Financial Statements for the year ended 31 December 2023 (dated 2024-05-31)

FY2024 figures come from an audited financial statements, signed / final; FY2023 figures come from an audited financial statements, signed / final; FY2022 figures come from an audited financial statements, signed / final — see the column notes.

  • Net interest income

    USD 222 million

    222,324,365 USD units · p15

    Change not shown.

    Interest income less interest expense, as printed.

  • Total operating income

    USD 385 million

    385,478,753 USD units · p15

    Change not shown.

    The bank's own total of its income lines before credit impairment and operating expenses, under its printed label. What it includes differs between banks; it is not revenue.

  • Profit / (loss) for the year

    USD 152 million

    152,295,551 USD units · p15

    Change not shown.

  • Total assets

    USD 2.54 billion

    2,540,321,212 USD units · p14

    Change not shown.

  • Customer deposits

    USD 1.86 billion

    1,860,527,257 USD units · p14

    Change not shown.

  • Total equity

    USD 426 million

    425,718,488 USD units · p14

    Change not shown.

Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the two years come from different filings.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; reported for the year · source
    • Auditor's emphasis of matter. Other matter: the statements are prepared under the requirements of the Malawi Stock Exchange (IFRS and the ICAM IAS 29 Directive); the Company prepared another set of consolidated and separate financial statements under IFRS for statutory purposes under the Mauritius Companies Act 2001, on which a distinct opinion will be issued (auditor's report, PDF p11).
  • FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source
    • Auditor's report, year to 2023-12-31: qualified opinion ('except for'). The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. Basis for Qualified Opinion: a Zimbabwean subsidiary changed its functional currency from ZWL to USD with effect from 1 January 2023, although the IAS 21 criteria were not met before the last quarter of 2023; IAS 29 should have continued to be applied until the end of the third quarter. The departure from IFRS would cause foreign exchange gains or losses and net monetary loss in the consolidated statement of profit or loss and OCI, and total equity in the consolidated statement of financial position, to be materially misstated; the impact has not been quantified because the subsidiary's records were kept in USD from 1 January 2023 (PDF p8).
    • Auditor's emphasis of matter. Other matter: the statements are prepared under the requirements of the Malawi Stock Exchange (IFRS and the ICAM IAS 29 Directive); the Company prepared another set of consolidated and separate financial statements under IFRS for statutory purposes under the Mauritius Companies Act 2001, on which a distinct opinion will be issued (auditor's report, PDF p11).
  • FY2022 — audited financial statements, signed / final; comparative in the FY2023 filing · source
    • Auditor's emphasis of matter. Other matter: the 2022 consolidated and separate financial statements were audited by another auditor, who expressed an unmodified opinion on 17 May 2023 (PDF p11).

Income statement

Income statement, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearsource limitationsFY2023Audited financial statementscomparative in FY2024 filingsource limitationsFY2022Audited financial statementscomparative in FY2023 filingsource limitations
Interest and similar income1 296,085,837 229,374,799 191,558,1932 147,389,347
Interest expense and similar charges3 (73,761,472) (62,856,352) (55,560,638)4 (38,462,439)
Net interest income/(expense) 222,324,365 166,518,447 135,997,5555 108,926,908
Fee and commission income 73,384,249 55,625,730 55,741,1946 38,182,479
Fee and commission expense (12,058,992) (7,006,393) (3,658,292)7 (1,672,738)
Income from investments8 19,153,278 1,466,197 6,239,4639 4,336,994
Net gains/(losses) on foreign exchange transactions10 75,710,203 52,426,808 59,098,34211 37,581,693
Net gains on derivative instruments1213 3,192,795 6,793,620 2,090,647 2,000,172
Fair value gain on investment property1415 293,742 7,221 499,76916 –17
Other operating income 3,479,113 2,470,167 1,066,21418 2,196,973
Total non-interest income 163,154,388 111,783,350 121,077,33719 82,625,573
Total operating income 385,478,753 278,301,797 257,074,89220 191,552,481
Staff and training costs (68,611,575) (63,257,255) (57,987,651)21 (47,750,430)
Premises and equipment costs22 (21,071,701) (17,541,013) (17,322,881)23 (14,293,083)
Depreciation and amortisation24 (11,344,827) (11,540,281) (9,524,231)25 (8,667,861)
Administration and general expenses26 (37,198,404) (34,312,990) (31,786,288)27 (25,583,108)
Total expenses (138,226,507) (126,651,539) (116,621,051)28 (96,294,482)
Impairment loss on financial assets (13,060,899) (5,443,513) (12,791,775)29 (4,201,963)
Operating profit 234,191,347 146,206,745 127,662,06630 91,056,036
Share of profit/(loss) in joint venture31 69,733 (442,063) 3,736,49432 4,423,662
Profit before income tax expense 234,261,080 145,764,682 131,330,78433 87,098,909
Income tax expense (81,965,529) (42,248,406) (39,586,865)34 (25,904,105)
Profit for the year 152,295,551 103,516,276 91,743,91935 61,194,804
Total other comprehensive income/(loss) for the year36 12,393,569 4,771,414 (51,403,681)37 (31,572,570)
Total comprehensive income for the year 164,689,120 108,287,690 40,340,23838 29,622,234
Non-controlling interest3940 39,435,205 34,871,567 32,313,17741 21,106,230
Net monetary loss42 Not reported in this filing43 –44 (67,776)45 (7,662,127)
Impairment loss on investment in joint venture46 Not reported in this filing47 Not reported in this filing48 Not reported in this filing5049 (718,662)
  1. Printed “–”; reading unresolved, so no amount is shown. Printed dash for 2022; no separate check confirms the nil beyond the printed total non-interest income.
  2. Printed “–”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (48)
  1. Printed under different labels across filings: “Interest and similar income”; “Interest and similar income1”.
  2. Audited financial statements dated 2024-05-31 prints 191 963 977 (units, p15) for this line and year.
  3. Printed under different labels across filings: “Interest expense and similar charges”; “Interest expense and similar charges1”.
  4. Audited financial statements dated 2024-05-31 prints (55 429 344) (units, p15) for this line and year.
  5. Audited financial statements dated 2024-05-31 prints 136 534 633 (units, p15) for this line and year.
  6. Audited financial statements dated 2024-05-31 prints 54 416 495 (units, p15) for this line and year.
  7. Audited financial statements dated 2024-05-31 prints (1 959 188) (units, p15) for this line and year.
  8. “Income from investments” is an issuer-specific line, not mapped to a shared definition: Note 44.
  9. Audited financial statements dated 2024-05-31 prints 6 291 928 (units, p15) for this line and year.
  10. Printed under different labels across filings: “Net gains on foreign exchange transactions1”; “Net gains/(losses) on foreign exchange transactions”.
  11. Audited financial statements dated 2024-05-31 prints 53 752 374 (units, p15) for this line and year.
  12. “Net gains on derivative instruments” is an issuer-specific line, not mapped to a shared definition: Note 13.
  13. Printed under different labels across filings: “Net gains on derivative instruments”; “Net gains on derivative instruments1”.
  14. “Fair value gain on investment property” is an issuer-specific line, not mapped to a shared definition: Note 20.
  15. Printed under different labels across filings: “Fair value gain on investment property”; “Fair value loss on investment property”.
  16. Audited financial statements dated 2024-05-31 prints (1 088 609) (units, p15) for this line and year.
  17. Audited financial statements dated 2024-05-31 prints 1 241 492 (units, p15) for this line and year.
  18. Audited financial statements dated 2024-05-31 prints 114 745 139 (units, p15) for this line and year.
  19. Audited financial statements dated 2024-05-31 prints 251 279 772 (units, p15) for this line and year.
  20. Audited financial statements dated 2024-05-31 prints (56 655 426) (units, p15) for this line and year.
  21. “Premises and equipment costs” is an issuer-specific line, not mapped to a shared definition: Note 48.
  22. Audited financial statements dated 2024-05-31 prints (18 331 455) (units, p15) for this line and year.
  23. “Depreciation and amortisation” is an issuer-specific line, not mapped to a shared definition: Note 49: depreciation and amortisation, one line.
  24. Audited financial statements dated 2024-05-31 prints (11 709 497) (units, p15) for this line and year.
  25. “Administration and general expenses” is an issuer-specific line, not mapped to a shared definition: Note 50.
  26. Audited financial statements dated 2024-05-31 prints (36 303 925) (units, p15) for this line and year.
  27. Audited financial statements dated 2024-05-31 prints (123 000 303) (units, p15) for this line and year.
  28. Audited financial statements dated 2024-05-31 prints (13 287 888) (units, p15) for this line and year.
  29. Audited financial statements dated 2024-05-31 prints 114 991 581 (units, p15) for this line and year.
  30. Printed under different labels across filings: “Share of (loss)/profit in joint venture”; “Share of profit/(loss) in joint venture”.
  31. Audited financial statements dated 2024-05-31 prints (1 240 468) (units, p15) for this line and year.
  32. Audited financial statements dated 2024-05-31 prints 113 751 113 (units, p15) for this line and year.
  33. Audited financial statements dated 2024-05-31 prints (35 007 544) (units, p15) for this line and year.
  34. Audited financial statements dated 2024-05-31 prints 78 743 569 (units, p15) for this line and year.
  35. Printed under different labels across filings: “Total other comprehensive income/(loss) for the year”; “Total other comprehensive loss for the year”.
  36. Audited financial statements dated 2024-05-31 prints (37 120 323) (units, p15) for this line and year.
  37. Audited financial statements dated 2024-05-31 prints 41 623 246 (units, p15) for this line and year.
  38. “Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Note 41.2.
  39. Printed under different labels across filings: “Non-controlling interest”; “Non-controlling interests”.
  40. Audited financial statements dated 2024-05-31 prints 26 118 659 (units, p15) for this line and year.
  41. “Net monetary loss” is an issuer-specific line, not mapped to a shared definition: IAS 29 net monetary loss (2023 only).
  42. Not reported in this filing: Not printed: the FY2025 statement of profit or loss (p15) has no 'Net monetary loss' line in either consolidated column; between operating profit and profit before tax it prints only 'Share of profit/(loss) in joint venture'. Text layer.
  43. Audited financial statements dated 2024-05-31 prints – (units, p15) for this line and year.
  44. “Impairment loss on investment in joint venture” is an issuer-specific line, not mapped to a shared definition: Note 19 (FY2023 document); within profit before income tax.
  45. Not reported in this filing: Not printed: the FY2025 statement of profit or loss (p15) has no 'Impairment loss on investment in joint venture' line; it prints 'Share of profit/(loss) in joint venture' (2025: 69 733). Text layer.
  46. Not reported in this filing: Not printed: the FY2024 statement of profit or loss (p15) has no 'Impairment loss on investment in joint venture' line; it prints 'Net monetary loss' and 'Share of (loss)/profit in joint venture' (2024: (442 063)). Text layer.
  47. Audited financial statements dated 2024-05-31 presents this line for this year: – (p15). Not shown in this column, which follows one filing's presentation.
  48. Not reported in this filing: Not printed: the FY2024 statement of profit or loss (p15) has no 'Impairment loss on investment in joint venture' line in the restated 2023 column; it prints 'Net monetary loss' (67 776) and 'Share of (loss)/profit in joint venture' 3 736 494. Text layer.

Balance sheet

Balance sheet, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearsource limitationsFY2023Audited financial statementscomparative in FY2024 filingsource limitationsFY2022Audited financial statementscomparative in FY2023 filingsource limitations
Cash and balances with banks12 966,313,686 651,669,255 439,430,0743 384,136,678
Money market investments45 435,600,973 470,925,545 219,450,2966 210,288,726
Loans and advances to customers 905,645,346 772,177,845 716,407,5847 651,726,217
Repurchase agreements89 –10 5,026,164 4,980,131 5,037,836
Derivative financial assets11 17,373,969 15,929,929 6,210,28112 4,391,211
Current tax assets 4,951,877 2,339,446 2,759,472 2,375,378
Assets held for sale13 13,967,202 –10 2,217,391 132,722
Other assets14 47,213,669 28,552,614 27,014,49015 24,589,026
Investments at fair value through profit or loss 39,094,247 10,496,502 9,815,296 4,610,875
Investments at fair value through other comprehensive income 6,202,863 4,412,979 4,331,698 5,905,854
Investment in joint venture –10 13,897,469 14,339,532 15,580,000
Investment property 4,264,759 3,880,996 1,494,000 4,800,000
Intangible assets 9,082,705 7,933,505 6,650,49116 8,251,214
Right-of-use assets 6,206,600 7,345,708 6,308,61017 6,592,797
Property and equipment 82,361,107 67,649,575 58,865,593 54,020,729
Deferred tax assets 2,042,209 4,411,479 1,447,747 2,262,313
Total assets 2,540,321,212 2,066,649,011 1,521,722,68618 1,384,701,576
Balances due to other banks19 84,054,425 84,389,144 70,274,51820 36,784,818
Customer deposits 1,860,527,257 1,514,618,262 1,096,024,32721 1,039,069,966
Derivative financial liabilities22 18,220,810 13,511,952 4,845,227 3,401,326
Other payables2324 65,909,585 46,732,478 46,475,90025 45,073,798
Current tax liabilities 21,431,072 9,386,440 9,517,616 3,747,542
Lease liabilities26 5,895,474 6,854,129 6,076,986 6,571,505
Loans payable27 8,634,903 55,864,666 33,835,062 16,920,504
Subordinated debt28 12,158,635 11,550,581 11,821,358 12,446,592
Convertible preference shares29 10,786,747 10,786,747 10,786,747 10,786,747
Provisions30 15,315,628 10,153,735 6,178,404 5,574,497
Deferred tax liabilities31 11,668,188 7,867,364 11,316,05032 7,441,815
Total liabilities 2,114,602,724 1,771,715,498 1,307,152,19533 1,187,819,110
Share capital 117,409,081 117,409,081 117,409,081 117,409,081
Restructuring reserve34 (54,510,623) (54,510,623) (54,510,623) (54,510,623)
Property revaluation reserve 12,128,763 12,879,448 14,747,28135 10,188,610
Loan loss reserve 3,383,036 3,924,732 4,114,37336 3,097,300
Other reserves37 22,997,650 14,154,740 8,944,47038 4,181,042
Foreign currency translation reserve39 (85,105,263) (90,266,296) (94,912,544)40 (50,593,932)
Retained earnings 273,753,189 186,197,073 138,354,69241 98,145,576
Total equity attributable to equity holders of the company 290,055,833 189,788,155 134,146,73042 127,917,054
Non-controlling Interest 135,662,655 105,145,358 80,423,76143 68,965,412
Total equity 425,718,488 294,933,513 214,570,49144 196,882,466
Total equity and liabilities 2,540,321,212 2,066,649,011 1,521,722,68618 1,384,701,576
  1. Printed “–”, read as nil: subtotal_arithmetic: bs.total_assets.
Notes and alternative reported figures (43)
  1. “Cash and balances with banks”: mapping to a shared definition is uncertain. Cash and balances with banks, including the central bank and other banks (note 9).
  2. Printed under different labels across filings: “Cash and balances with banks”; “Cash and balances with banks2”; “Cash and balances with central banks”.
  3. Audited financial statements dated 2024-05-31 prints 439 423 064 (units, p14) for this line and year.
  4. “Money market investments” is an issuer-specific line, not mapped to a shared definition: Note 10.
  5. Printed under different labels across filings: “Money market investments”; “Money market investments1”.
  6. Audited financial statements dated 2024-05-31 prints 220 156 226 (units, p14) for this line and year.
  7. Audited financial statements dated 2024-05-31 prints 716 388 728 (units, p14) for this line and year.
  8. “Repurchase agreements” is an issuer-specific line, not mapped to a shared definition: Note 12 (asset).
  9. Printed under different labels across filings: “Repurchase agreements”; “Repurchase agreements1”.
  10. Printed under different labels across filings: “Derivative financial assets”; “Derivative financial assets1”.
  11. Audited financial statements dated 2024-05-31 prints 6 209 306 (units, p14) for this line and year.
  12. “Assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 15.
  13. Printed under different labels across filings: “Other assets”; “Other assets1”; “Other assets3,4”.
  14. Audited financial statements dated 2024-05-31 prints 24 862 084 (units, p14) for this line and year.
  15. Audited financial statements dated 2024-05-31 prints 6 807 976 (units, p14) for this line and year.
  16. Audited financial statements dated 2024-05-31 prints 6 434 133 (units, p14) for this line and year.
  17. Audited financial statements dated 2024-05-31 prints 1 520 532 377 (units, p14) for this line and year.
  18. Printed under different labels across filings: “Balances due to other banks”; “Balances due to other banks1”.
  19. Audited financial statements dated 2024-05-31 prints 70 274 378 (units, p14) for this line and year.
  20. Audited financial statements dated 2024-05-31 prints 1 096 195 084 (units, p14) for this line and year.
  21. Printed under different labels across filings: “Derivative financial liabilities”; “Derivative financial liabilities1”.
  22. “Other payables”: mapping to a shared definition is uncertain. Printed 'Other payables' (note 28) in a bank's liquidity-ordered statement.
  23. Printed under different labels across filings: “Other payables”; “Other payables1,3”.
  24. Audited financial statements dated 2024-05-31 prints 46 285 407 (units, p14) for this line and year.
  25. “Lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 22: not split into current and non-current.
  26. Printed under different labels across filings: “Loans payable”; “Loans payable3”.
  27. “Subordinated debt” is an issuer-specific line, not mapped to a shared definition: Note 30.
  28. “Convertible preference shares” is an issuer-specific line, not mapped to a shared definition: Note 32: presented as a liability.
  29. Printed under different labels across filings: “Provisions”; “Provisions2”.
  30. Printed under different labels across filings: “Deferred tax liabilities”; “Deferred tax liabilities2”.
  31. Audited financial statements dated 2024-05-31 prints 8 861 609 (units, p14) for this line and year.
  32. Audited financial statements dated 2024-05-31 prints 1 304 677 878 (units, p14) for this line and year.
  33. “Restructuring reserve” is an issuer-specific line, not mapped to a shared definition: Note 36.
  34. Audited financial statements dated 2024-05-31 prints 13 319 772 (units, p14) for this line and year.
  35. Audited financial statements dated 2024-05-31 prints 5 084 373 (units, p14) for this line and year.
  36. “Other reserves” is an issuer-specific line, not mapped to a shared definition: Note 39.
  37. Audited financial statements dated 2024-05-31 prints 6 624 168 (units, p14) for this line and year.
  38. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: Note 40.
  39. Audited financial statements dated 2024-05-31 prints (82 024 316) (units, p14) for this line and year.
  40. Audited financial statements dated 2024-05-31 prints 131 548 887 (units, p14) for this line and year.
  41. Audited financial statements dated 2024-05-31 prints 137 451 342 (units, p14) for this line and year.
  42. Audited financial statements dated 2024-05-31 prints 78 403 157 (units, p14) for this line and year.
  43. Audited financial statements dated 2024-05-31 prints 215 854 499 (units, p14) for this line and year.

Cash flow

Cash flow, USD units. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearsource limitationsFY2023Audited financial statementscomparative in FY2024 filingsource limitationsFY2022Audited financial statementscomparative in FY2023 filingsource limitations
Interest and fees received12 429,157,436 323,197,878 277,940,2233 183,780,147
Interest paid45 (64,318,126) (56,500,422) (51,943,834)6 (29,392,146)
Cash paid to suppliers and employees78 (114,219,045) (107,150,006) (111,529,333)9 (44,023,169)
Changes in mandatory reserves at central bank1011 (11,174,183) (65,948,027) (39,390,955) 3,454,033
Operating cash flow before changes in loans and deposits (unlabelled subtotal)12 239,446,082 93,599,423 75,076,10113 113,818,865
Increase in loans and advances1415 205,355,926 120,213,540 (62,651,524) Not reported in this filing16
(Decrease)/increase in customer deposits1718 (49,477,153) 261,503,784 213,083,468 Not reported in this filing19
Cash generated from/(used in) operations 395,324,855 475,316,747 225,508,04520 279,545,982
Income taxes paid (67,066,101) (49,634,624) (28,687,950)21 (18,724,250)
Cash generated from operating activities 328,258,754 425,682,123 197,003,69222 261,488,458
Maturities/(purchases) of money market investments2324 56,879,048 (252,855,228) (102,143,766)25 11,964,320
Maturities/(purchases) of repurchase agreements2627 5,046,420 (193,292) (2,868,551) 42,706,004
Receipts for currency swaps28 703,871 1,338,541 –29 Not reported in this filing30
Payments for currency swaps31 –29 (1,306,800) –29 Not reported in this filing32
Proceeds from sale of non-current asset held for sale33 1,200,000 2,550,000 –29 Not reported in this filing34
Proceeds from sale of investments at fair value through profit or loss35 53,000 5,994,464 97,645 4,545,180
Purchase of investments at fair value through profit or loss36 (7,808,035) (1,601,132) –29 Not reported in this filing37
Proceeds from sale of equipment 17,396 277,594 313,30038 199,089
Acquisition of property and equipment and intangible assets13940 (23,254,616) (19,172,653) (15,286,323)41 (13,017,183)
Purchase of digital gold coins42 –29 (2,616,294) (3,627,571)43 –29
Dividends received from investments at FVOCI and FVPL4445 442,208 346,610 330,00046 –47
Net cash used in investing activities48 33,279,292 (267,238,190) (123,185,266)49 46,397,410
Dividends paid to non-controlling interests25051 (13,814,592) (12,137,195) (9,177,263) (7,530,605)
Dividends paid to owners (17,999,898) (15,787,473) (13,474,950) (6,145,625)
Proceeds from share issue5253 –54 15 –54 72
Interest paid on borrowings (1,891,316) (4,488,064) –54 Not reported in this filing55
Payments for lease liabilities56 (3,188,505) (2,270,500) (2,975,352)57 (2,005,970)
Proceeds from short and long term borrowings58 8,036,487 88,687,120 90,481,989 Not reported in this filing59
Repayments of short and long term borrowings60 (57,241,928) (48,464,680) (42,356,128) Not reported in this filing61
Net cash generated (used in)/from financing activities62 (86,099,752) 5,539,223 22,498,29663 (191,198,413)
Net increase/(decrease) in cash and cash equivalents 275,438,294 163,983,156 96,316,72264 116,687,786
Cash and cash equivalents at beginning of year65 539,289,048 392,721,951 376,787,540 297,936,486
Effect of changes in exchange rate66 27,987,782 (17,416,059) (80,382,311)67 (37,836,401)
Cash and cash equivalents at 31 December68 842,715,124 539,289,048 392,721,95169 376,787,540
Dividends received from investments in subsidiaries7071 –72 –73 183,597 667,057
Increase in net customer balances174 Not reported in this filing75 Not reported in this filing76 Not reported in this filing7877 165,726,786
Proceeds from/(repayments of) short and long term borrowings79 Not reported in this filing80 Not reported in this filing81 Not reported in this filing8382 (175,516,285)
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “–”; reading unresolved, so no amount is shown. Printed dash for 2022; no separate check confirms the nil beyond the printed investing total.
  3. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  4. Printed “–”; reading unresolved, so no amount is shown. Printed dash, read on the page image (p18); recorded as printed and not interpreted as nil. The FY2025 report labels the operating-section dividends line 'Dividends received from investments in subsidiaries' (same position as 'Dividends received' in the FY2024 report, between 'Cash generated from/(used in) operations' and 'Income taxes paid'); the consolidated 2025 column prints '–' (2024 also '–').
  5. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
Notes and alternative reported figures (78)
  1. “Interest and fees received” is an issuer-specific line, not mapped to a shared definition: Operating activities (direct method).
  2. Printed under different labels across filings: “Interest and fees received”; “Interest and fees received1”.
  3. Audited financial statements dated 2024-05-31 prints 277 343 044 (units, p18) for this line and year.
  4. “Interest paid” is an issuer-specific line, not mapped to a shared definition: Operating activities: interest paid on deposits and similar.
  5. Printed under different labels across filings: “Interest paid”; “Interest paid1”.
  6. Audited financial statements dated 2024-05-31 prints (52 110 374) (units, p18) for this line and year.
  7. “Cash paid to suppliers and employees” is an issuer-specific line, not mapped to a shared definition: Operating activities (direct method).
  8. Printed under different labels across filings: “Cash paid to suppliers and employees”; “Cash paid to suppliers and employees1”.
  9. Audited financial statements dated 2024-05-31 prints (100 876 172) (units, p18) for this line and year.
  10. “Changes in mandatory reserves at central bank” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  11. Printed under different labels across filings: “Changes in mandatory reserves at central bank”; “Changes in mandatory reserves at central bank2”.
  12. “Operating cash flow before changes in loans and deposits (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal of the four lines above it.
  13. Audited financial statements dated 2024-05-31 prints 84 965 543 (units, p18) for this line and year.
  14. “Increase in loans and advances” is an issuer-specific line, not mapped to a shared definition: Operating activities; printed as a positive amount.
  15. Printed under different labels across filings: “Increase in loans and advances”; “Increase loans and advances2”.
  16. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no 'Increase in loans and advances' line; loans and deposits are presented net as 'Increase in net customer balances' (2022: 165 726 786). Checked on the page image.
  17. “(Decrease)/increase in customer deposits” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  18. Printed under different labels across filings: “(Decrease)/increase in customer deposits”; “Increase in customer deposits2”.
  19. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no customer-deposits line; loans and deposits are presented net as 'Increase in net customer balances' (2022: 165 726 786). Checked on the page image.
  20. Audited financial statements dated 2024-05-31 prints 205 424 951 (units, p18) for this line and year.
  21. Audited financial statements dated 2024-05-31 prints (29 501 653) (units, p18) for this line and year.
  22. Audited financial statements dated 2024-05-31 prints 176 106 895 (units, p18) for this line and year.
  23. “Maturities/(purchases) of money market investments” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 10.
  24. Printed under different labels across filings: “(Purchases)/maturities of money market investments”; “Maturities/(purchases) of money market investments”; “Purchases of money market investments”.
  25. Audited financial statements dated 2024-05-31 prints (104 958 389) (units, p18) for this line and year.
  26. “Maturities/(purchases) of repurchase agreements” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  27. Printed under different labels across filings: “(Purchases)/maturities of repurchase agreements1”; “Maturities/(purchases) of repurchase agreements”; “Purchases of repurchase agreements”.
  28. “Receipts for currency swaps” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  29. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no 'Receipts for currency swaps' line; its 2022 lines are interest and fees received, interest paid, cash paid to suppliers and employees, changes in mandatory reserves, 'Increase in net customer balances', dividends received, income taxes paid; investing: money market investments, repurchase agreements, proceeds from sale of FVTPL investments, proceeds from sale of equipment, acquisition of property and equipment, digital gold coins, dividends received; financing: proceeds from issue of shares, subordinated debt, dividends to NCI, dividends to owners, lease payments and 'Proceeds from/(repayments of) short and long term borrowings'. Checked on the page image.
  30. “Payments for currency swaps” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  31. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no 'Payments for currency swaps' line. Checked on the page image.
  32. “Proceeds from sale of non-current asset held for sale” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  33. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no 'Proceeds from sale of non-current asset held for sale' line. Checked on the page image.
  34. “Proceeds from sale of investments at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 17.
  35. “Purchase of investments at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 17.
  36. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no 'Purchase of investments at fair value through profit or loss' line; it prints only 'Proceeds from sale of investments at fair value through profit or loss' (2022: 4 545 180). Checked on the page image.
  37. Audited financial statements dated 2024-05-31 prints 328 300 (units, p18) for this line and year.
  38. “Acquisition of property and equipment and intangible assets1” is an issuer-specific line, not mapped to a shared definition: Investing activities, notes 21 and 24: property and equipment with intangible assets, one line (footnote 1: non-cash additions excluded).
  39. Printed under different labels across filings: “Acquisition of property and equipment and intangible assets”; “Acquisition of property and equipment and intangible assets1”.
  40. Audited financial statements dated 2024-05-31 prints (15 734 323) (units, p18) for this line and year.
  41. “Purchase of digital gold coins” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 17.
  42. Audited financial statements dated 2024-05-31 prints (4 320 000) (units, p18) for this line and year.
  43. “Dividends received from investments at FVOCI and FVPL” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  44. Printed under different labels across filings: “Dividends received”; “Dividends received from investments at FVOCI and FVPL”.
  45. Audited financial statements dated 2024-05-31 prints 981 000 (units, p18) for this line and year.
  46. Printed under different labels across filings: “Net cash (used in)/generated from investing activities”; “Net cash used in investing activities”.
  47. Audited financial statements dated 2024-05-31 prints (126 474 318) (units, p18) for this line and year.
  48. “Dividends paid to non-controlling interests2” is an issuer-specific line, not mapped to a shared definition: Financing activities (footnote 2).
  49. Printed under different labels across filings: “Dividends paid to non-controlling interests”; “Dividends paid to non-controlling interests2”.
  50. “Proceeds from share issue” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  51. Printed under different labels across filings: “Proceeds from issue of shares”; “Proceeds from share issue”.
  52. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no 'Interest paid on borrowings' line in financing activities; the operating section prints 'Interest paid' ((29 392 146)). Checked on the page image.
  53. “Payments for lease liabilities”: mapping to a shared definition is uncertain. Printed 'Payments for lease liabilities'; the statement does not say whether interest is included.
  54. Audited financial statements dated 2024-05-31 prints (2 474 352) (units, p18) for this line and year.
  55. Printed under different labels across filings: “Proceeds from short and long term borrowings”; “Proceeds from short and long term borrowings3”.
  56. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no separate proceeds-from-borrowings line; it prints one net line 'Proceeds from/(repayments of) short and long term borrowings' ((175 516 285)), already transcribed. Not split. Checked on the page image.
  57. Printed under different labels across filings: “Repayments of short and long term borrowings”; “Repayments of short and long term borrowings3”.
  58. Not reported in this filing: Not printed: The FY2023 report's statement of cash flows (p18, consolidated restated 2022 column) has no separate repayments-of-borrowings line; it prints one net line 'Proceeds from/(repayments of) short and long term borrowings' ((175 516 285)), already transcribed. Not split. Checked on the page image.
  59. Printed under different labels across filings: “Net cash generated (used in)/from financing activities”; “Net cash generated from/(used in) financing activities”.
  60. Audited financial statements dated 2024-05-31 prints 21 304 326 (units, p18) for this line and year.
  61. Audited financial statements dated 2024-05-31 prints 70 936 903 (units, p18) for this line and year.
  62. Printed under different labels across filings: “Cash and cash equivalents at beginning of year”; “Cash and cash equivalents at beginning of year2”.
  63. Printed under different labels across filings: “Effect of changes in exchange rate”; “Effect of changes in exchange rate1”.
  64. Audited financial statements dated 2024-05-31 prints (55 002 875) (units, p18) for this line and year.
  65. Printed under different labels across filings: “Cash and cash equivalents at 31 December”; “Cash and cash equivalents at 31 December3”; “Cash and cash equivalents at 31 December4”.
  66. Audited financial statements dated 2024-05-31 prints 392 721 568 (units, p18) for this line and year.
  67. “Dividends received from investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Operating activities (FY2024 presentation).
  68. Printed under different labels across filings: “Dividends received”; “Dividends received from investments in subsidiaries”.
  69. “Increase in net customer balances1” is an issuer-specific line, not mapped to a shared definition: Operating activities (FY2023 presentation): net change in loans and advances and customer deposits on one line; the FY2024 statement prints them apart.
  70. Not reported in this filing: Not printed: the FY2025 statement of cash flows (p18) has no 'Increase in net customer balances' line; it prints 'Increase in loans and advances' 205 355 926 and '(Decrease)/increase in customer deposits' (49 477 153) separately. Checked on the page image.
  71. Not reported in this filing: Not printed: the FY2024 statement of cash flows (p18) has no 'Increase in net customer balances' line; it prints 'Increase loans and advances' 120 213 540 and 'Increase in customer deposits' 261 503 784 separately. Text layer.
  72. Audited financial statements dated 2024-05-31 presents this line for this year: 120 459 408 (p18). Not shown in this column, which follows one filing's presentation.
  73. Not reported in this filing: Not printed: the FY2024 statement of cash flows (p18) has no 'Increase in net customer balances' line; the restated 2023 column prints 'Increase loans and advances' (62 651 524) and 'Increase in customer deposits' 213 083 468 separately. Text layer.
  74. “Proceeds from/(repayments of) short and long term borrowings” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 26.2 (FY2023 presentation): net of proceeds and repayments on one line; the FY2024 statement prints them apart.
  75. Not reported in this filing: Not printed: the FY2025 statement of cash flows (p18) has no net borrowings line; it prints 'Proceeds from short and long term borrowings' 8 036 487 and 'Repayments of short and long term borrowings' (57 241 928) separately. Text layer.
  76. Not reported in this filing: Not printed: the FY2024 statement of cash flows (p18) has no net borrowings line; it prints 'Proceeds from short and long term borrowings' 88 687 120 and 'Repayments of short and long term borrowings' (48 464 680) separately. Text layer.
  77. Audited financial statements dated 2024-05-31 presents this line for this year: 46 430 891 (p18). Not shown in this column, which follows one filing's presentation.
  78. Not reported in this filing: Not printed: the FY2024 statement of cash flows (p18) has no net borrowings line; the restated 2023 column prints 'Proceeds from short and long term borrowings' 90 481 989 and 'Repayments of short and long term borrowings' (42 356 128) separately. Text layer.

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementsreported for the yearsource limitationsFY2023Audited financial statementscomparative in FY2024 filingsource limitationsFY2022Audited financial statementscomparative in FY2023 filingsource limitations
Earnings / (loss) per share (per share)71 0.045912 0.027923 0.0241845 0.016316
Profit / (loss) attributable to shareholders (USD units)9 112,860,346 68,644,709 59,430,7428 40,088,574
  1. Printed as 4.591 US cents; value converted to USD at 100 US cents = 1 USD.
  2. Printed as 2.792 US cents; value converted to USD at 100 US cents = 1 USD.
  3. Printed as 2.418 US cents; value converted to USD at 100 US cents = 1 USD.
  4. Printed as 1.631 US cents; value converted to USD at 100 US cents = 1 USD.
Notes and alternative reported figures (5)
  1. “Basic earnings per share (US cents)”: mapping to a shared definition is uncertain. Basic EPS; diluted EPS is printed apart (lower) and recorded as an issuer-native concept.
  2. Audited financial statements dated 2024-05-31 prints 2.141 (units, p15) for this line and year.
  3. Earnings / (loss) per share: printed as “Basic earnings per share (US cents)”.
  4. Audited financial statements dated 2024-05-31 prints 52 624 910 (units, p15) for this line and year.
  5. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid to owners (17,999,898) USD units Audited financial statements, p18
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid to owners (15,787,473) USD units Audited financial statements, p18
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid to owners (13,474,950) USD units Audited financial statements, p18
31 Dec 2022 Dividends paid (cash flow statement) Dividends paid to owners (6,145,625) USD units Audited financial statements, p18

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • FMBcapital Holdings Plc 2025 Annual Financial Statements for the year ended 31 December 2025, prepared under Listing Rules of Malawi Stock Exchange

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: Ernst & Young (Mauritius), unmodified opinion · signed

    Auditor's sign-off: Ernst & Young; David Ng Man Chuen, F.C.C.A., Licensed by FRC

    Final status: Independent auditor's report closed 'ERNST & YOUNG, Ebène, Mauritius, Date: 27 March 2026' with the name of David Ng Man Chuen, F.C.C.A., licensed by FRC (PDF p13, page image: see the visual check); the statements were approved by the board on 27 March 2026 and signed by two directors, Busisa Moyo and Terence Davidson (PDF p14 and p7).

    Document date
    27 Mar 2026
    Published
    16 Apr 2026
    Auditor's report
    27 Mar 2026
    Board approval
    27 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025
    Basis
    consolidated statements · USD units (printed “USD”)
    • Cash and cash equivalents at 31 December in the statement of cash flows (842 715 124; 2024: 539 289 048, note 9) differ from 'Cash and balances with banks' in the statement of financial position (966 313 686; 2024: 651 669 255); note 9 (PDF p107) reconciles them: less mandatory reserves held with the Bank of Mozambique (123 847 897; 2024: 112 527 254), add back expected credit losses (249 335; 2024: 147 047). The note is not transcribed.
    • Statement of cash flows (p18): 'Increase in loans and advances' is printed as a positive 205 355 926 (2024: 120 213 540) and '(Decrease)/increase in customer deposits' as (49 477 153) (2024: 261 503 784) although the statement of financial position shows loans and deposits both rising; the investing total is labelled 'Net cash used in investing activities' while printing an inflow of 33 279 292 in 2025. Kept as printed; the printed subtotals add up.
    • Earnings per share is printed in US cents (basic 4.591, 2024: 2.792; diluted 4.237, 2024: 2.591; p15) and stored in dollars with the printed figure and unit kept. The shares trade on the MSE in kwacha; the statements are presented in US dollars.
    Technical details
    File
    164 pages, with a text layer
    SHA-256
    a1f1b1e7c4ef00dc701e9f6ecc2497d7aa01002859f8d1e4b2af5733ee34e7a2
    Entity as printed
    FMBcapital Holdings Plc (the 'Company') and its subsidiaries (the 'Group')
    Exchange copy
    retrieved 2026-10-08T18:05:15Z

  • FMBcapital Holdings Plc 2024 Annual Financial Statements for the year ended 31 December 2024, prepared under Listing Rules of Malawi Stock Exchange

    Year ended 31 December 2024 · Audited financial statements · signed / final

    Audit: Ernst & Young (Mauritius), unmodified opinion · signed

    Auditor's sign-off: Ernst & Young; David Ng Man Chuen, F.C.C.A., Licensed by FRC

    Final status: Independent auditor's report (image pages, Docusign envelope E8E680A0-...) closed 'ERNST & YOUNG, Ebène, Mauritius, Date: 23 April 2025' with script-style Docusign signatures of the firm and of David Ng Man Chuen, F.C.C.A., licensed by FRC (PDF p13, page image), as accepted for the FY2025 report; the statements were approved by the board on 23 April 2025 and signed by two directors, Busisa Moyo and Terence Davidson (handwritten signatures, PDF p14, page image).

    Document date
    23 Apr 2025
    Published
    9 May 2025
    Auditor's report
    23 Apr 2025
    Board approval
    23 Apr 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2024, FY2023
    Basis
    consolidated statements · USD units (printed “USD”)
    • Cash and cash equivalents at 31 December in the statement of cash flows (539 289 048; 2023: 392 721 951, note 9) differ from 'Cash and balances with banks' (651 669 255; 2023: 439 430 074): footnote 4 (p18) says they exclude expected credit losses, cash collateral and restricted cash held with the Bank of Mozambique (USD 112,380,207). Not transcribed.
    • Statement of cash flows (p18): 'Increase loans and advances' is printed as a positive 120 213 540 (2023: (62 651 524)) and 'Increase in customer deposits' 261 503 784 (2023: 213 083 468); the comparatives were re-presented gross (footnote 2). Kept as printed; the printed subtotals add up.
    • The consolidated 2023 comparatives are headed 'Restated' (p14, p15, p18): the effective date of the change in functional currency from ZWL to USD for Afcarme Holdings and First Capital Bank Zimbabwe was moved from 1 January 2023 to 31 December 2023 and IAS 29 applied up to then (note 58; directors' report PDF p5). The originally issued 2023 consolidated statements received a qualified audit opinion on this matter (directors' report, p5).
    • Earnings per share is printed in US cents (basic 2.792, 2023: 2.418; diluted 2.591, 2023: 2.248; p15) and stored in dollars with the printed figure and unit kept. The shares trade on the MSE in kwacha; the statements are presented in US dollars.
    Technical details
    File
    166 pages, with a text layer
    SHA-256
    be5cc5c69c3cd1a155a7cf54fff30633c88f25892e7aafa8985c3b5987229085
    Entity as printed
    FMBcapital Holdings Plc (the 'Company') and its subsidiaries (the 'Group')
    Exchange copy
    retrieved 2026-10-08T18:06:30Z

  • FMBcapital Holdings Plc 2023 Annual Financial Statements for the year ended 31 December 2023

    Year ended 31 December 2023 · Audited financial statements · signed / final

    Audit: Ernst & Young (Mauritius), qualified opinion · signed

    Auditor's sign-off: Ernst & Young; David Ng Man Chuen, F.C.C.A, Licensed by FRC

    Final status: Independent auditor's report (PDF pp8-13, DocuSign envelope 89459EF2-...) with a QUALIFIED opinion, closed 'ERNST & YOUNG, Ebène, Mauritius, Date: 31 May 2024' with script-style DocuSign signatures of the firm and of David Ng Man Chuen, F.C.C.A, Licensed by FRC (PDF p13, page image), as accepted for the FY2024 report; the statements were approved by the board on 31 May 2024 and signed by two directors, Busisa Moyo and Terence Davidson (handwritten signatures, PDF p14, page image).

    Document date
    31 May 2024
    Published
    6 Jun 2024
    Auditor's report
    31 May 2024
    Board approval
    31 May 2024
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2022
    Basis
    consolidated statements · USD units (printed “USD”)
    • the qualification (premature change of a Zimbabwe subsidiary's functional currency; IAS 29 not applied; not quantified) affects 2023 and the 2022 comparatives; the FY2024 statements restate 2023 for this matter.
    • Basis for Qualified Opinion: a Zimbabwean subsidiary changed its functional currency from ZWL to USD with effect from 1 January 2023, although the IAS 21 criteria were not met before the last quarter of 2023; IAS 29 should have continued to be applied until the end of the third quarter. The departure from IFRS would cause foreign exchange gains or losses and net monetary loss in the consolidated statement of profit or loss and OCI, and total equity in the consolidated statement of financial position, to be materially misstated; the impact has not been quantified because the subsidiary's records were kept in USD from 1 January 2023 (PDF p8).
    • Statement of cash flows, consolidated restated 2022 column (p18, checked on the page image): the unlabelled subtotal 113 818 865 plus 'Increase in net customer balances' 165 726 786 is 279 545 651, but 'Cash generated from/(used in) operations' is printed 279 545 982 (331 more). The difference carries into cash generated from operating activities (261 488 458), the net change in cash (116 687 786) and closing cash (376 787 540), which agree with each other as printed. Kept as printed; four 2022 cash-flow checks fail by 331.
    • Cash and cash equivalents at 31 December in the statement of cash flows (392 721 568; 2022: 376 787 540, note 9) differ from 'Cash and balances with central banks' (439 423 064; 2022: 384 136 678): footnote 3 (p18) says they exclude expected credit losses, cash collateral and restricted cash held with the Bank of Mozambique.
    • The consolidated 2022 comparatives are headed 'Restated' (pp14, 15, 18): presentation and disclosure of derivative financial assets and liabilities and of net gains on derivatives corrected; Bank of Mozambique mandatory reserve balances excluded from cash and cash equivalents (note 60). Later restatement: the FY2024 statements (fin-r55-w01) restate these 2023 consolidated figures for the qualification matter (functional-currency change date moved to 31 December 2023 and IAS 29 applied); figures here are the originally issued 2023 figures.
    • Earnings per share is printed in US cents (basic 2.141, 2022: 1.631; diluted 1.994, 2022: 1.525; p15). The shares trade on the MSE in kwacha; the statements are presented in US dollars.
    • This document is prepared under IFRS Accounting Standards and the Mauritius Companies Act 2001 (opinion, p8); the FY2024 spec's document is the set prepared under the Malawi Stock Exchange Listing Rules (IFRS with the ICAM IAS 29 directive).
    Technical details
    File
    157 pages, with a text layer
    SHA-256
    a0d523c3cada49c649b203b12f69965dd4d0c6dd4a54eff59566448e05c7a727
    Entity as printed
    FMBcapital Holdings Plc (the 'Company') and its subsidiaries (the 'Group')
    Exchange copy
    retrieved 2026-10-08T18:07:48Z

Data notes

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