List Of Banks In Malawi
MALAWI BANKS; A LIST OF BANKS IN MALAWI
Malawi banks play central role in the country’s economy. Banks in Malawi strive to satisfy the needs of their customers. Malawian banks invest much money into technology to make sure that they serve the public better.
The coming of ATM machines help customers to withdraw money even after old hours or during holidays. Then, there are some Malawi banks that provide online banking services. Furthermore, Mobile banking is also becoming more popular.
Registration of Banks in Malawi is done under the Banking act of Malawi. Below is the list of banks in Malawi.
Reserve bank of Malawi (RBM)
First of all we have the Reserve bank as the central bank of Malawi. The only bank that issue the Malawian currency. RBM was established in 1968. The headquarters is in Lilongwe.
NATIONAL BANK OF MALAWI (NBM)
Second on the list is National Bank of Malawi. NBM is the largest commercial bank in Malawi. The bank has 30 branches across Malawi. It has 900 employees. NBM is listed on Malawi Stock Exchange in 2000.
Next is FDH bank. A Malawian billionaire Thom Mpinganjira in partnership with other companies registered FDH bank . It acquired government-owned Malawi savings Bank on 01, July, 2015.
FDH Bank website
First Merchant Bank (FMB)
Listed on the Malawi stock exchange in 2016. FMB was registered in 2010. The subsidiaries of FMB include the Leasing and Finance Company of Malawi, FMB capital markets Limited. Has shares in other companies in Zambia, Botswana and Mozambique
CDH Investment Bank (CDHIB)
It is a leading Investment Bank in Malawi. It started its business in 2012. CDHIB investment bank is part of CDH Holdings limited which operates in Malawi and East Africa.
Started operating as a commercial Bank in 2014
Shareholders: NICO Holdings Limited, The public, IFC, NITL, and ESOP.
The bank has 32 service centers spread across Malawi.
NBS bank is on the Malawi Stock Exchange
Is owned by Nedbank Group (97.1%) and employees 2.9%
Six branches found in three major cities of Malawi, Blantyre, Lilongwe and Mzuzu.
Nedbank was registered as a commercial bank in 1989
Standard Bank Malawi
Standard bank was formerly known as Commercial Bank of Malawi.
The Standard Bank Website
Opportunity Bank of Malawi (OBM)