Standard Bank Malawi First-Half Profit Doubles on Loan Growth

Standard Bank Ltd. of Malawi, a unit of South Africa-based Standard Bank Group, said first-half profit jumped 103 percent on growth in loans.

Profit climbed to 1.330 billion Malawi kwacha ($9.5 million) in the six months through June, from 656 million kwacha a year earlier, the bank said in a statement published today in the Daily Times newspaper.

Net interest income, the money banks make from interest charges on loans, grew 32 percent to 1.737 billion kwacha from 1.320 billion kwacha a year earlier, according to the statement.