Centenary Bank posts K5.6bn half-year profit as deposits and assets surge

Centenary Bank has reported a profit after tax of K5.6 billion for the half-year ended 30 June 2026, up from K3.6 billion recorded during the same period last year.

Mosiwa: Rising customer confidence

The result also represents a three percent gain over the bank’s full-year 2025 profit of K7 billion.

The bank attributed the improved performance to rising customer confidence, which lifted deposits and strengthened liquidity, alongside strong revenue growth and contained operating expenses despite ongoing inflationary pressures.

However, the bank noted that higher impairment charges linked to weakened loan quality had weighed on profitability, reflecting a challenging economic environment.

“The bank remains well positioned to sustain its positive performance,” the results state, jointly signed by acting managing director Beatrix Mosiwa, chairperson Francis Pelekamoyo, director John Biziwick and chief finance officer Hilarious Nampota.

Total assets rose to K274.9 billion, up 11.9 percent from December 2025 and 25.2 percent from June 2025, driven by increased investment in government Treasury bills and notes, along with a 24.1 percent rise in customer deposits, according to the results.

Total income climbed 56.6 percent to K32.7 billion, compared with K20.9 billion a year earlier, while interest income grew 39.7 percent to K23 billion. Net interest income advanced 53.2 percent to K16.3 billion.

Centenary Bank Malawi, established in 2022, is 51 percent owned by the Centenary Rural Development Group of Uganda and 49 percent by the Catholic Archdiocese of Lilongwe.