Company overview
National Bank of Malawi plc was established in 1971 through the merger of Barclays Bank DCO (Dominion Colonial Overseas) and Standard Bank. The latter had its origins in the Republic of South Africa and had a wide presence across Africa. The merger brought together complementary operations, resulting in a nationwide distribution of assets and services.
Barclays Bank divested from Malawi in 1982, and Standard Bank, later known as Standard Chartered Bank, left Malawi in 1996, in alignment with the broader strategic plans of the parent bank abroad.
Today, National Bank of Malawi plc is the leading bank in Malawi, leveraging the experience and expertise gained from Barclays Bank and Standard Chartered Bank. It operates through a network of 32 service centers, as well as a widespread network of 135 ATMs and 812 FastServe Agents, providing convenient access to banking services for customers throughout Malawi.
With over 1000 employees, National Bank of Malawi plc holds the largest asset base among commercial banks in Malawi. It is also renowned for its efficiency and profitability. On August 21st, 2000, the bank was listed on the Malawi Stock Exchange, with an oversubscription of 3.4 times. Currently, it is one of the most liquid stocks and plays a key and vibrant role on the Exchange.
ShareholdingAs at 31 December 2022
Vision
To be the most successful financial institution in Malawi with an internationally visible presence.
Mission Statement
To provide outstanding and inclusive financial solutions that deliver sustained stakeholder value.
Core Values
- Customer Centred.
Always striving to meet our customers’ expectations and putting the customer first
- Fairness and Equity.
Always strive to provide fair opportunities for all employees based on their needs and abilities.
- Commitment.
The Bank will be committed to excellence in its performance, and that the employees will have a clear understanding of its objectives and goals.
- Integrity and Trust.
All Bank employees will fully comply with and share the Bank’s commitment to high moral, ethical and legal standards.
- Teamwork.
The Bank will build and maintain a culture of mutual respect, collaboration, recognition, and cooperation, promote feedback, effective communication and group work.
- Socially Responsible.
As a good corporate citizen, the National Bank of Malawi will actively participate in local communities in deserving charitable and social activities. NBM will seek to increase transparency, investment in green technologies, and diversity and inclusion initiatives.
Subsidiaries
National Bank of Malawi plc, in addition to its core operations, has diversified its business portfolio through strategic investments in various subsidiaries.These subsidiaries play a vital role in expanding the bank’s reach and enhancing its service offerings.
Below is a list of the subsidiaries owned by National Bank of Malawi plc, along with their respective ownership percentages:
| Subsidiary | Ownership |
| Akiba Commercial Bank plc | 60.48% |
| Stockbrokers Malawi Ltd | 75% |
| United General Insurance Company Limited | 47% |
| NBM Capital Markets Limited | 100% |
| NBM Development Bank | 100% |
| NBM Pension Administration Limited | 100% |
