National Bank of Malawi
=======================

National Bank of Malawi was established in 1971 as a result of a merger of Barclays Bank DCO (Dominion Colonial Overseas) and Standard Bank, the latter 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.

Barclays Bank disinvested from Malawi in 1982 and Standard Bank which was later renamed Standard Chartered Bank, left Malawi in 1996, in line with the broader strategic plans of the parent bank overseas.

National Bank today is the leading bank in the Malawi. It is a product of the experience and expertise of Barclays Bank and Standard Chartered Bank with a network of twelve branches and ten agencies , with the distinction of being the only bank with agency operations at the two International airports of Kamuzu and Chileka.

On August 21st 2000, the bank was listed on the Malawi Stock Exchange with an oversubscription of 3.4 times. It is currently one of the frequently traded stock on the Exchange.

The Bank's shareholding at 31st December 2005 is as below:
Press Corporation Limited 51.8%
Old Mutual Group 25.0%
Members of the Public 22.0%
Employees (ESOP) 1.2%


Corporate Governance
The Bank has a very experienced, highly skilled and qualified team of Non Executive directors. The directors are appointed by the main shareholders with approval from the central bank as required by the , The Reserve Bank of Malawi, to provide direction and control of the bank and to prevail over the strategic direction of the bank. The Bank has several board committees looking after different strategic areas of the bank's operations such as:

* Board Credit committee
* Board Audit committee
* Board Remuneration committee


The composition of the bank as of 30th November 2006 is as follows:

Dr M A P Chikaonda Chairman
Mr Dixies Kambauwa Director
Mr Pius P Mulipa Director
Mr Jean J Du Plessis Director
Mr James A Regout Director
Mr Andrew G Sesani Director
Mr E J Kambalame Director


The Bank has a youthful qualified Executive Management team that is supported by a high calibre senior management team leading various specialized functions of the bank. The mean and median ages for the senior management team are 43.7 and 43 years respectively. The Management, which is all academically and professionally qualified, experienced and vibrant is led by an Executive team comprising:

George Partridge Chief Executive Officer
Augustine Chithenga General Manager
Gilbert Chibesakunda Company Secretary

MISSION
To provide the best financial services in Malawi and the region, distinguished by outstanding service, product innovation and sustained earnings growth

CORE VALUES
* Customer Satisfaction
* Employee Recruitment and Development
* Employee Commitment
* Integrity and Trust
* Team Work
* Corporate Social Responsibility


CORE ACTIVITIES
The bank is engaged in fully fledged commercial banking activities from both at wholesale and retail level serving both Corporate and Institutional customers such as multinationals, big local group of companies, parastatal corporations and Central and local government department, international Non Governmental and local Non Governmental organisations and the diplomatic community on one hand and individual personal accounts and Small and Medium enterprises and sole traders on the retail end.

PRODUCTS AND SERVICES

ACCOUNTS
* Current accounts for both Corporate and Retail customers
* Savings Accounts
* Fixed Term Deposit accounts
* Special Savers accounts
* Flexible Term Deposit accounts (Call Accounts)

Corporate based products and services

WORKING CAPITAL FINANCE
Mainly targeted at Corporate customers mostly Small and Medium Enterprises, Limited liability companies, Large Agriculture undertakings such as Tobacco, Tea, Macadamia Farmers; it includes:

* Overdrafts
* Seasonal overdraft for agriculture
* Foreign Currency Loans
* Short Term Loans and Medium term loans


CAPITAL EXPENDITURE FINANCE
For financing big undertakings such as:

* Construction Loans
* Syndicated Loans


FINANCE FOR EXPORTS AND IMPORTS
* Pre-shipment Finance
* Loans Against trust receipts


INTERNATIONAL TRADE
* Bankers Acceptances
* Documentary Collection
* Documentary Letter of Credit


Bonds and Guarantees

TREASURY PRODUCTS

* Buying and selling of Foreign Exchange
* Foreign Currency Denominated accounts (FCDAs)
* Forward Exchange Contracts
* Discounting of Treasury bills
* Reverse Repos
* Currency Options




Go Back | Page 2