FDH Bank plc has appointed former FDH Financial Holdings Limited board chairperson Noel Mkulichi as the Malawi Stock Exchange-listed bank’s new managing director with effect from January 1 2022.
Mkulichi, 61, succeeds Elias Ngalande who retired from the bank in July last year after serving for one year.
A statement signed by the bank’s board chairperson Charity Mseka said Mkulichi, a former Reserve Bank of Malawi director responsible for bank supervision, brings to the bank extensive experience in financial services acquired over the years.
“Mkulichi has over 26 years professional experience in financial regulation, financial planning and analysis, strategic planning, treasury management and risk management,” she said.
Mseka said Mkulichi has also served on various boards of companies in the country.
Mkulichi holds a master’s in banking and finance from the University of Wales and a bachelor’s degree in social science from the University of Malawi.
FDH Bank plc board has thanked George Chitera, who has been the bank’s acting managing director since July 2021, for his contribution to the bank’s success during his tenure.
FDH Bank plc has been on a profitability footing since its listing on the MSE where in 2020 posted a K14.4 billion after-tax profit, a jump from K5.3 billion achieved in 2019.
In the half-year period to June 2021, FDH Bank also grew its profits to K4.55 billion up from K3.22 billion recorded in a similar period in 2020. FDH Bank plc listed on MSE in August 2020 to become the fifth bank listed on MSE.