Bank consolidation seems to have had an impact in the country, with large and stable banks growing steadily while small and inefficient banks being swallowed. A rapid consolidation drive, reduced the number of banks from 13 to eight.
The Reserve Bank of Malawi was established under an Act of Parliament in July 1964 (Chapter 44:02 Laws of Malawi) and started its operations in June, 1965 in Blantyre. It replaced a branch of the Federal Bank of Rhodesia and Nyasaland founded to serve as a central bank of the Federation of Rhodesia and Nyasaland. The federation comprised Southern Rhodesia (now Zimbabwe), Northern Rhodesia (now Zambia) and Nyasaland (now Malawi).
CDH Investment Bank is a leading investment bank in Malawi, having successfully converted from Continental Discount House Limited (CDH). The bank provides investment banking and corporate financial advisory services, as well as deposit-taking and loan-making services.
National Bank of Malawi plc was established in 1971 as a result of a merger of Barclays Bank DCO (Dominion Colonial Overseas) and Standard Bank, which had its origins in Republic of South Africa, was widely established in Africa. The merger of the two banks brought together complimentary operations to provide a country wide spread of assets and services.
FDH Bank is a leading provider of diversified investments and financial solutions. Founded in November 2007, the company has interests in banking, discount house operations, forex bureau operations, as well as investment management and advisory services. The company was established in 2000 through a partnership between Dr. Thomson Mpinganjira, Press Corporation Limited, Old Mutual Life Assurance (Malawi) Limited and Kingdom Financial Holdings Limited of Zimbabwe.
NBS Bank is a fully fledged commercial bank providing a wide range of financial services to individuals, small and medium businesses, large corporations and public institutions.
Ecobank Malawi Ltd is a leading Pan African bank present in 38 African countries. In Malawi, Ecobank offers Corporate, Commercial and Consumer banking.
Standard Bank, previously known as the Commercial Bank of Malawi, was registered as a commercial bank on 15 March 1969. The start-up share capital was K2.5 million and the founder shareholders were the Malawi Development Corporation (20%), Press Holdings Limited (20%) and Banco Pinto Sotto Mayor (60%). The first branch was opened in Limbe on 11 April 1970.
Centenary Bank Limited, based in Malawi, became part of the Centenary Group of Uganda. It has achieved noteworthy milestones, including being the pioneer in establishing a bank within the Dzaleka refugee camp.
First Capital Bank opened for business in 1995 with one branch in Blantyre. From its humble beginnings the bank now operates 32 branches and agencies across Malawi employing 850 staff and serving a customer base of 500 000.With a regional presence in 5 SADC countries First Capital Bank is ideally positioned to facilitate seamless cross border trade and offer customers unique trade finance solutions across the region
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