Standard Bank’s Robust Financial Foundation Powers Future Growth for Malawi Businesses

Key Business Points

• Standard Bank plc’s balance sheet remains strong to withstand current macroeconomic shifts, with a 64 percent increase in profit-after-tax to K86.4 billion in the year ended December 2024.
• The bank expects long-term profitability to be anchored by investments in the real sector, including agriculture, mining, infrastructure, and energy, where it already has a strong footing.
• Mining sector development is expected to generate about $3 billion annually, with Standard Bank well-positioned to support mining investors with its expertise and leverage from its South African parent company.

Standard Bank plc’s chief executive, Phillip Madinga, has expressed confidence in the bank’s ability to withstand current macroeconomic shifts, citing its strong balance sheet and investments in the real sector. The bank’s profit-after-tax increased by 64 percent to K86.4 billion in the year ended December 2024, and by 14 percent to K48.4 billion in the half-year ended June 30, 2025. Madinga attributed this growth to the bank’s strong operating strategy in alternative sectors such as agriculture, mining, infrastructure, and energy.

The new government’s commitment to bring economic recovery by supporting investments in the productive sectors is seen as a positive development by Standard Bank. "Zikomo kwambili" (thank you very much) to the government for its commitment to economic recovery, says Madinga. The bank’s track record in financing infrastructure, mining, and agriculture is undeniably strong, and it has also been instrumental in the Malawi energy sector as it continues to undergo reform.

The mining sector, in particular, is expected to be a game-changer for the economy, with the potential to generate about $3 billion annually. However, pilferage through unregulated exports is a significant challenge, with estimated losses of around $600 million. Geologist Ignatius Kamwanje emphasized the need to strengthen mining industry regulation to seal loopholes and increase equity participation by investors on the Malawi Stock Exchange (MSE).

Standard Bank is well-positioned to support mining investors, with its multi-disciplinary teams offering insights into risk mitigation, structured financing, and how to navigate the pitfalls in this dynamic and complex sector. The bank’s leverage from its South African parent company, the Standard Bank Group, is also seen as a significant advantage. As the country’s mining sector gradually opens up, mining investors stand to benefit from Standard Bank’s expertise and support. "Tikuyika pakati pa ma deal" (we are in the middle of deals), says Madinga, indicating the bank’s readiness to support mining investors. With its strong balance sheet and expertise in the real sector, Standard Bank plc is poised to play a significant role in supporting Malawi’s economic growth and development.

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