FDH Bank, also FDH Bank 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 cor ...

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 northeast ...

. 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 ba ...

and national banking regulator.

Location

The headquarters and main branch of FDH Bank Limited are located on the First Floor of Umoyo House, at 8 Victoria Avenue North, in the city of

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 ...

, the financial capital of Malawi. The geographical coordinates of the headquarters of FDH Bank Limited are: 15°47'08.5"S, 35°00'18.5"E (Latitude:-15.785694; Longitude:35.005139).

Overview

As of 31 December 2019, the total assets of FDH Financial Holdings, the holding company of the bank, were valued at MWK:218.2 billion (approx. US$303 million), with shareholders' equity valued at MWK:22.4 billion (approx. US$31.1 million).

History

The bank was founded in 2008, as a subsidiary of FDH Financial Holdings Limited (FDHFHL), a financial holding group, formed in 2007 to replace ''First Discount House Limited'' (FDH). In July 2015, FDH Financial Holdings Limited successfully acquired 75 percent ownership of

Malawi Savings Bank Malawi Savings Bank (MSB), was a commercial bank in Malawi. It was licensed as a commercial bank by the Reserve Bank of Malawi, the central bank and national banking regulator. Prior to 2015 MSB was a wholly owned parastatal company. MSB was acquire ...

, together with its subsidiary ''MSB Forex Bureau Limited''. In July 2016, FDH Financial Holdings Limited completed the merger of FDH Bank Limited and Malawi Savings Bank Limited (MSB). The merged bank adopted the name FDH Bank Limited. The merger of the two banks culminated in the merger of ''FDH Money Bureau Limited'' and ''MSB Forex Bureau Limited''. The merged entity adopted the name FDH Money Bureau Limited.

Ownership

, the

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

of FDH Bank Limited, was owned by FDH Financial Holdings Limited of

(75 percent) and the

Government of Malawi Politics of Malawi takes place in a framework of a presidential representative democratic republic, whereby the President of Malawi is both head of state and head of government, and of a multi-party system. Executive power is exercised by the g ...

(25 percent). Subsequently FDH Financial Holdings Limited acquired 100 percent ownership of the bank. In June 2020, Malawian print media reported that the stock of FDH Bank would list on the

Malawi Stock Exchange The Malawi Stock Exchange (the MSE) is a stock market, with three licensed brokers is based in Blantyre, Malawi. Overview The Malawi Stock Exchange was inaugurated in March 1995 and opened for business for the first time on 11 November 1996, un ...

, in August 2020. The table below, represents the shareholding in the

of the holding company, ''FDH Financial Holdings Limited''. {, style="font-size:100%;" , - , width="100%" align="center" , FDH Financial Holdings 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, , M Development Limited (MDL) of

, , 55.0 , - , 2, , Old Mutual of Malawi, , 40.0 , - , 3, , FDH Employee Stock Ownership Plan, , 5.0 , - , , , Total, , 100.00 , -

Branches

, FDH Bank maintained a total of 53 networked branches, and 91

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, fun ...

, in all 27 districts of the country.

Governance

Arthur Oginga, a non-executive board member, serves as the

Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

of the eleven-person board of directors. Ellias Ngalande, 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 especially ...

of FDH Bank Limited.

References

External links

*
Website of Reserve Bank of Malawi
{{Authority control Banks of Malawi Banks established in 2008 2008 establishments in Malawi