List of Banks in Malawi 2022-2023
List of Banks in Malawi 2022-2023
Banks in Malawi drive the economy in a much positive way, they serve the needs of the population of the country. Investments and other services help improve the economic activities in the country, whether it’s savings or loans the bank has got you covered. Here is a list of banks in Malawi 2022-2023.
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Easy access to funds through ATMs and the revolution of internet banking has made things much accessible.
1. The Reserve Bank of Malawi;
is Malawi’s central bank, which was founded in 1968 and is headquartered in Lilongwe. Wilson Banda is the current governor. The bank is active in promoting financial inclusion policy and is a founding member of the Alliance for Financial Inclusion.
2. National Bank of Malawi;
National Bank of Malawi, is a commercial bank in Malawi. The bank is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. The bank 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 the Republic of South Africa, was widely established in Africa.
3. Standard Bank Malawi;
Commercial Bank of Malawi, is a commercial bank in Malawi. It is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. The bank is currently known as the Standard Bank Malawi, which serves all the people in the country.
4. NBS Bank;
New Building Society NBS Bank was established by the merger between Commonwealth Century Building Society and First Permanent Building Society.
5. First Capital Bank Malawi Limited;
First Capital Bank Malawi Plc was formerly called First Merchant Bank Plc, is a commercial bank in Malawi. It is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator.
Nedbank Malawi was incorporated in 1976 under the name “Fincom”. Nedbank Limited is a wholly-owned subsidiary of Nedbank Group. A South African wholesale and retail banking services as well as insurance, asset management, and wealth management.
Ecobank Malawi is supervised and regulated by the Banking Supervision Department of the Reserve Bank of Malawi (RBM). Apart from being an international Bank, they offer services that help the locals.
8. FDH Bank;
FDH is a commercial bank in Malawi licensed by the Reserve Bank of Malawi, Financial Holdings Limited has served the people of Malawi for a long time, and where voted local favourite for a decade.
9. CDH Investment Bank;
CDH Investment bank is one of the leading investment banks in Malawi licensed by the Reserve bank of Malawi the Central Bank of the country. I call them the Kings of Investment due to the rate they offer on returns after investments.
10. New Finance Bank;
New Finance Bank Malawi Limited is a commercial bank in Malawi licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. The Bank has currently merged with myBucks after they acquired a 50% stake in the bank. There isn’t any report so far about a name change.
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