National Bank Of Malawi (NBM) Is A Commercial Bank In Malawi. The Bank Is One Of The Commercial Banks Licensed By The Reserve Bank Of Malawi, The Central Bank And The National Banking Regulatory Authority.
Location
The Headquarters And Main Offices Of National Bank Of Malawi Are Located In The Commercial Centre And Office Building At 7 Henderson Street, Blantyre City, Malawi's Largest City And Financial Capital. The Geographical Coordinates Of The Bank's Headquarters Are: 15 ° 47 '15.0 "S, 35 ° 00' 13.0" E (Latitude: -15.787500; Longitude: 35.003611)
Overview
NBM Is A Large Financial Services Institution That Serves The Banking Needs Of The People And Businesses Of Malawi. As Of December 2018, The Bank's Total Asset Value Was MWK: 417.33 Billion (approximately $579 Million) And Shareholders' Equity Was MWK: 88.40 Billion (approximately $123 Million).
National Bank Of Malawi Has Four Subsidiaries, Two Of Which Are Wholly Owned:
- NBM Capital Markets Limited - 100% Equity
- NBM Pensions Administration Limited - 100% Equity
- Stockbrokers Malawi Limited - 75% Equity
- United Property Insurance Limited - 31% Equity.
History
The History Of The National Bank Of Malawi Dates Back To The 1890s When The African Lakes Company Established Its Banking Operations In Nyasaland. In 1918, The National Bank Of South Africa (now First National Bank) Acquired The African Lakes Company's Banking Operations In The Colonies. In 1925, The National Bank Of South Africa Merged With The Anglo-Egyptian Bank And The Colonial Bank In 1925 To Form Barclays (Dominion, Colonial And Overseas). As A Result, Barclays Inherited The Operations Of The National Bank Of South Africa In The Colonies.
The Current Bank Was Established In 1971 When Standard Bank Of Malawi Merged With Barclays Of Malawi With The Consent Of The Malawi Government. In July 1971, The Merger Was Completed And Standard Bank And Barclays Jointly Owned 51% Of The New Bank, Or 25.5% Each. Press Holdings Limited, A Private Investment Company In Malawi, Owned 29% And The Malawi Parastatal Agricultural Development And Marketing Corporation (ADMARC) Owned 20%. Over The Years, Both Standard Bank And Barclays Divested From NBM And Old Mutual Group And Became Investors In The Bank.
Standard Chartered Was An Investor In NBM For A Time, Acquiring Assets That Previously Belonged To Standard Bank. In August 2000, The Shares Of National Bank Of Malawi Were Listed On The Malawi Stock Exchange Under The Symbol NBM. At The Time Of Listing, The Bank Issued 45 Million Ordinary Shares.
Ownership
NBM's Shares Are Listed On The Malawi Stock Exchange Under The Trading Symbol: NBM. National Bank Of Malawi's Shares Are Held By Corporate And Individual Investors. As Of December 31, 2015, The Bank's Shareholding Ratio Was:
Branch Network
As Of April 2018, National Bank Of Malawi Had More Than 30 Branches, Referred To As "service Centres" By The Bank.
Governance
George B Partridge Is A Non-executive Director And Chairs The 12-member Board. The Managing Director And Chief Executive Officer Is MacFussy Kawawa, Who Oversees The Day-to-day Activities Of The Bank With The Assistance Of Eleven (11) Other Senior Executives.
Acquisition And Merger Of Indebank
In July 2015, NBM Acquired 97.05% Of The Shares Of Indebank, A Commercial Bank In Which The Government Of Malawi Holds 40%. NBM Paid MWK: 6.50 Billion (approximately US $9.10 Million). In The Year Ending July 1, 2016, Indenbank's Operations Were Consolidated Into NBM, Some Bank Branches Were Closed, And The Service Centers Of Both Institutions Were Located Nearby.
Exclusive Owner Name Ownership Percentage 1 Press Group Limited 51.52Old Mutual Group 25.13 Public 21.64 Employee Stock Ownership Plan 1.85 Total 100.0
