Centenary Bank Malawi, also Centenary Bank Malawi Limited, is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

Malawi Malawi (; or aláwi Tumbuka: ''Malaŵi''), officially the Republic of Malawi, is a landlocked country in Southeastern Africa that was formerly known as Nyasaland. It is bordered by Zambia to the west, Tanzania to the north and northeas ...

. It is one of the commercial banks licensed by the

Reserve Bank of Malawi The Reserve Bank of Malawi is the central bank of Malawi established in the year 1964 located in Lilongwe. The current governor is Wilson Banda. The Bank is active in promoting financial inclusion policy and is a leading member of thAlliance for ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

and national banking regulator.

Location

The headquarters and main branch of Centenary Bank Malawi Limited are located at Ekistics House, Convention Drive, Lilongwe 3, in Malawi.

Overview

As of October 2022, the total assets of MyBucks Bank Malawi, the predecessor of Centenary Bank Malawi, were valued at approximately MWK:122 billion (approx. US$120 million).

History

The bank was established in October 2022, when the Centenary Group, a financial services conglomerate headquartered in Uganda, that is affiliated with the

Roman Catholic Church The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a ...

in Uganda, acquired majority shareholding in the erstwhile ''MyBucks Bank Malawi''. At the same time, the Roman Catholic Archdiocese of Lilongwe acquired the remaining minority shareholding. The new bank rebranded as Centenary Bank Malawi Limited. Before that, MyBucks Bank Malawi was 100 percent owned by MyBucks SA, a financial outfit based in

Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...

, that went into bankruptcy in December 2021. Centenary Bank rebranded from MyBucks Bank Malawi on 23 March 2023, after attaining a commercial banking license from the

, earlier that month.

Ownership

The table below, represents the shareholding in the stock of ''Centenary Bank Malawi Limited'', as of December 2022. {, style="font-size:100%;" , - , width="100%" align="center" , Centenary Bank Malawi Limited Stock Ownership , - valign="top" , {, class="wikitable sortable" style="margin-left:auto;margin-right:auto" ! style="width:2em;" , Rank !!Name of Owner!!Percentage Ownership , - , 1, , Centenary Group of

Uganda }), is a landlocked country in East Africa. The country is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The sou ...

, , 51.0 , - , 2, ,

Roman Catholic Diocese of Lilongwe The Roman Catholic Archdiocese of Lilongwe ( la, Archidioecesis Lilongvensis) is the Roman Catholic archdiocese located in Lilongwe in Malawi. Before its elevation to an archdiocese in 2011, it had belonged to the ecclesiastical province of the ...

, , 49.0 , - , , , Total, , 100.00 , -

Branches

, MyBucks Bank Malawi Limited, the predecessor of Centenary Bank Malawi Limited maintained networked brick-and-mortar branches in eight cities, towns and other urban centers, including

Blantyre Blantyre () is Malawi's centre of finance and commerce, and its second largest city, with an enumerated 800,264 inhabitants . It is sometimes referred to as the commercial and industrial capital of Malawi as opposed to the political capital, L ...

, Lilongwe, Dzaleka,

Kasungu Kasungu is a town in the Kasungu District of the Central Region of Malawi. The population of Kasungu was 58,653 according to the 2018 census. Kasungu is approximately north-west of the capital of Malawi, Lilongwe, and is east of Kasungu N ...

, Madisi,

Mangochi Mangochi is a township in the Southern Region of Malawi. Located near the southern end of Lake Malawi, in colonial times it used to be called Fort Johnston. As of 2018 it has a population of 53,498. History Mangochi was founded by colonial adm ...

Mzuzu Mzuzu is the capital of Malawi's Northern Region and is the third largest city by population in Malawi. The city has 221,272 residents and 20,000 commuters ( Mzuzu University students) with about 1.7 million people in its metropolitan area. It ...

and Zomba. At that time, they also maintained 85 banking agents and 30

automated teller machines An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fund ...

, across the country.

Governance

As of October 2022, the Chairman of the board of directors is Francis Z. Pelekamoyo, a former Governor of the Reserve Bank of Malawi. Zandile Shaba serves as the

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

of the bank.

References

External links

*
Website of Reserve Bank of Malawi
{{coord, 13, 57, 29, S, 33, 47, 25, E, display=title Banks of Malawi Banks established in 2023 2023 establishments in Malawi Centenary Group