National Bank of Malawi

National Bank of Malawi

Type	Public
Traded as	: NBM
Industry	Financial Services
Founded	1971
Headquarters	Blantyre, Malawi
Key people	Mathews Chikaonda, Chairman, George Partridge, Managing Director
Products	Loans, Savings, Checking, Investments, Debit cards, Credit cards, Mortgages
Revenue	Aftertax: US$25 million (2009)
Total assets	US$495 million (2009)
Number of employees	960+
Website	www.natbank.co.mw

National Bank of Malawi (NBM), is a commercial bank in Malawi. The bank is one of the eleven banks licensed by the Reserve Bank of Malawi, the national banking regulator.

NBM is a large financial services institution, serving the banking needs of the people and businesses in Malawi. As of December 2009^[update], the bank's total assets were in excess of US$495 million, with shareholder's equity of about US$78 million. The bank maintains five subsidiary companies, three of which are wholly owned:

National Bank of Malawi traces its history from the 1890s when African Lakes Corporation established banking business in Nyasaland. In 1918, the National Bank of South Africa (now First National Bank) acquired the banking business of African Lakes Corporation in the colony. In 1925, National Bank of South Africa was merged with the Anglo-Egyptian Bank and the Colonial Bank in 1925 to form Barclays Bank (Dominion, Colonial and Overseas). Barclays thus inherited the National Bank of South Africa's business in the colony.

The bank as is was established in 1971 when Standard Bank of Malawi, with the consent of the Government of Malawi, merged with Barclays Bank of Malawi. In July 1971, the merger was effected, with Standard and Barclays jointly owning 51% of the new bank i.e. 25.5% each. Press Holdings Limited, a private Malawian investment company owned 29% and Agricultural Development and Marketing Corporation (ADMARC), a Malawian parastatal, owned 20%. Over the years, both Standard Bank and Barclays Bank divested from NBM and Old Mutual Group, became an investor in the bank.