Basic InformationNational
Bank of Malawi (hereinafter referred to as NBM) is a pure commercial bank, not a state-owned or joint venture bank. It is market-oriented and committed to providing comprehensive financial services to individuals, businesses, and institutions. NBM dominates Malawi's banking sector with its efficient operations and profitability and is one of the largest commercial banks in the country.
Name and BackgroundFull
Name: National Bank of Malawi Plc
Founded: 1971 through the merger of Barclays Bank DCO and Standard Bank (originated in South Africa).
Head Office: Blantyre, Malawi, NBM Towers, 7 Henderson Street.
Shareholder Background: NBM is a listed company on the Malawi Stock Exchange (symbol: NBM), listed on August 21, 2000, with an initial offering of 45 million shares, which is oversubscribed by 3.4 times. Shareholders include institutional and individual investors, part of which is held by Press Holdings Limited (29%) and ADMARC, 20%), and has been invested by institutions such as Standard Bank, Barclays Bank and Old Mutual Group in the past, but there is no direct control by foreign banks, reflecting strong localization characteristics.
Background addendum: Drawing on the experience of Barclays and Standard Bank, NBM has grown to become the backbone of Malawi's financial sector, leading the industry in terms of asset size and profitability.
Coverage of services
: NBM mainly serves the whole of Malawi, with no significant global or regional business expansion, but supports cross-border financial needs through partnerships with international banks such as Citibank, Standard Chartered Bank, etc.
Offline outlets: As of December 2022, NBM has 32 Service Centres, covering major cities and towns in Malawi.
ATM Distribution: NBM operates 135 ATMs and expands service reach through 812 FastServe agent locations, significantly improving financial availability in remote areas. This extensive physical network is particularly important for Malawi's traditional banking customers, ensuring ease of cash access and basic services.
Regulatory & Compliance
Regulator: The NBM is strictly regulated by the Reserve Bank of Malawi (RBM), Malawi's central bank responsible for setting monetary policy and financial regulatory standards.
Deposit insurance: Malawi does not currently have a mandatory deposit insurance scheme, but the RBM safeguards the stability of the banking system through regulatory measures such as capital adequacy and liquidity requirements.
Compliance Record: NBM has a strong compliance track record and has no recent record of major violations or penalties. When it acquired Indebank (97.05% equity) in 2015, it strictly followed the regulatory requirements of RBM, demonstrating its compliance capabilities. NBM also actively responds to RBM's Basel II standard, ensuring financial transparency and risk management.
Financial Health
: NBM's capital adequacy ratio meets RBM's Basel II-based requirements, and the exact data is not disclosed, but its asset size and profitability indicate a solid capital base.
Non-Performing Loan Ratio: NBM's non-performing loan ratio (NPL ratio) remains at a low level in the industry, reflecting its prudent credit management and risk control capabilities. The 2024 report shows a 42% increase in the loan portfolio, indicating good asset quality.
Liquidity Coverage Ratio: NBM's Liquidity Coverage Ratio (LCR) meets RBM regulatory requirements, and the specific data is not disclosed, but as the largest bank in Malawi by assets, it has strong liquidity management capabilities.
Summary: NBM's financial health is a leading position in Malawi's banking sector, with adequate capital, excellent asset quality and abundant liquidity, making it suitable for clients looking for stable banking services.
Deposits & LoansDeposits
:
current accounts: Basic savings and checking accounts are available at lower interest rates (typically less than 1%), making them ideal for day-to-day money management.
Fixed deposits: Fixed deposit products include short-term and long-term options, and the interest rate fluctuates according to the deposit term and amount (the specific interest rate needs to consult the official website of NBM or outlets).
Featured products: NBM offers "Special Savers Account", which targets high yields for high-balance customers, and Student Saver Account, which waives some fees for students; There are also large certificates of deposit (Fixed Deposits) that are suitable for long-term savings.
Loans:Mortgages: Loans for home purchases are available, with interest rates adjusted according to market conditions and loan tenure (benchmark interest rate refers to 25.20% as of May 2025), subject to assessment of income and collateral.
Car loans: support the purchase of new and used cars, with slightly higher interest rates than mortgages and flexible terms.
Personal Line of Credit: An unsecured personal loan with a higher interest rate and is suitable for short-term funding needs.
Flexible repayment: Some of NBM's loan products allow for early repayment or adjustment of repayment schedules, with terms varying from product to product.
Features: NBM's loan products cover agriculture, trade and SME financing, such as agricultural equipment loans and import and export trade financing, to meet the diversified needs of Malawi's economy.
List of Common Fees
Account Management Fee: A monthly fee (approximately MWK 500-1000, depending on the account type) may be charged for regular current accounts, which is usually waived for student accounts.
Transfer fee: The domestic transfer fee is low (about MWK 200-500), and the cross-border transfer fee is high, so you need to refer to the international bank cooperation standards.
Overdraft Fees: Unauthorized account overdrafts can incur hefty penalties (see NBM Terms for specific amounts).
ATM inter-bank withdrawal fee: NBM's ATM network covers a wide range of areas, and its own ATM withdrawals are free of charge, and inter-bank withdrawals may charge MWK 300-500.
Hidden Fee Alert: Some accounts require a minimum balance (e.g. MWK 5000), anything below which may trigger additional fees; Clients are advised to review the account terms regularly to avoid accidental charges.
Digital Service Experience
APP & Online Banking:
NBM provides a mobile banking app and an online banking platform that supports basic functions such as balance inquiry, transfer and bill payment. User rating data is limited, but local users in Malawi report that the interface is simple and suitable for basic needs.
Core functions: Support real-time transfer and bill management (such as water and electricity payment), but do not integrate face recognition or complex investment tools.
Technological innovation:NBM is moving forward with digital transformation, such as expanding services through FastServe proxy points, but AI customer service or robo-advisors are not yet widely used.
Open Banking APIs: There is no public information showing that NBM supports open banking APIs, and digital innovation is slightly lagging behind the world's leading banks.
Summary: NBM's digital services are pragmatic and suitable for local customers in Malawi, but they are more basic in functionality compared to international banks.
Customer Service Quality
Service Channel:
24/7 phone support: NBM provides a round-the-clock call center (+265 1 831485) with fast response times.
Live chat: The official website supports online consultation, but the response time may vary depending on peak periods.
Social media: NBM is active on social platforms such as Twitter, often responding to customer inquiries within hours.
Complaint Handling: The complaint rate is low, the average resolution time is about 3-5 working days, and the user satisfaction ranks high in the Malawi banking industry.
Multi-language support: Services are mainly provided in English and Chichewa (Malawi's main language), with no other non-local language support, and cross-border users may need to rely on English to communicate.
Security MeasuresFunds
Safety:
Deposit Insurance: Malawi does not have a nationwide deposit insurance scheme, but NBM guarantees the safety of client funds through RBM's strict regulation and capital requirements.
Anti-fraud technology: NBM employs real-time transaction monitoring to prevent fraud and unauthorized transactions.
Data Security:NBM does not disclose whether it is ISO 27001 certified, but its IT systems follow international banking standards and have adequate data protection measures.
Data breaches: There are no recent major data breaches, indicating that its data security management is relatively reliable.
Featured Services & Differentiated
Segments:
student accounts: Appeal to younger customers with no monthly fees and minimum balance requirements.
Exclusive wealth management for the elderly: Simplify savings and investment products for retirees.
Green Finance: NBM supports agricultural loans and sustainable project financing, and some of its products are in line with ESG (Environmental, Social and Governance) investment philosophy.
High-net-worth services: NBM provides private banking services and customizes financial solutions for high-net-worth clients, with an entry threshold of about MWK 10 million (about USD 6,000).
Others: NBM actively participates in corporate social responsibility (CSR), such as donating to schools and supporting women's entrepreneurship, which enhances the social impact of the brand.
Market Position & HonorsIndustry
Rankings: NBM is the largest commercial bank in Malawi by assets, with a market capitalization of MWK 2.9 trillion in 2024, accounting for 18.8% of the market capitalization of the Malawi Stock Exchange. In terms of global ranking, it did not enter the global top 50 banks because of its focus on the local market.
Awards: NBM has received many local industry recognitions, such as "Best Bank in Malawi" or "Most Socially Responsible Bank", but there are no international awards such as "Best Digital Bank".
Summary: NBM occupies an undisputed leadership position in the Malawi banking sector, and its solid financial performance and extensive service network make it the first choice for local clients.
