Biz Briefs: Finca showcases products at trade fair, Indebank profits falls 6.1%

Finca Malawi at Trade Fair

Finca Malawi has expressed happiness with the public response from its recently launched Small Enterprise Loan product. Finca marketing manager Samson Mwalungila said the new product, which is being showcased at the Chichiri Trade Fair Grounds and is targeting small business enterprises, has received an overwhelming response. He has since encouraged people to embrace the loan facility set at a minimum of K10 million and maximum of K20 million which will be processed within five working days.

Indebank profit falls 6.1%

Indebank has registered a K634.7 million profit before net impairment on loans and advance, a 6.1 percent drop from the previous year’s 675. 5 million largely on the account of reduced business. In a statement co-signed by the bank’s chairman Isaac Ndamala and chief executive officer William Chatsala, the bank said the financial performance in 2014 was severely constrained by a capital base that could not adequately support operations of the bank.