Bank Windhoek

Last updated
Bank Windhoek Limited
Type Subsidiary
NSX: CGP [1]
Industry Banking
Founded1982;41 years ago (1982)
Headquarters Windhoek, Namibia
Area served
Namibia
Key people
Johan Swanepoel (Chairman)
Baronice Hans (Managing Director) [2]
Products Financial services
Loans
Transactional
Savings
Investments
RevenueIncrease2.svg N$1.21 billion (2022) [3]
Increase2.svg N$2.69 billion (2022) [4]
Increase2.svg N$1.48 billion (2022) [5]
Total assets Increase2.svg N$46.84 billion (2022) [6]
Total equity Increase2.svg N$5.80 billion (2022) [7]
Number of employees
1,704 (2022)
Parent Capricorn Group
Website www.bankwindhoek.com.na

Bank Windhoek Limited (Bank Windhoek) is a commercial bank in Namibia, which is licensed by the Bank of Namibia (BoN) to operate in the country. It provides financial services to its clients, which include personal, commercial and Small and Medium-sized Enterprise (SME) banking and accounts.

Contents

Bank Windhoek headquarters on Independence Avenue, Windhoek Bank Windhoek Head Office And Windhoek Branch.jpg
Bank Windhoek headquarters on Independence Avenue, Windhoek

Bank Windhoek also offers foreign exchange services throughout its branches and through a joint venture with American Express, which has various outlets in Namibia. While being an autonomous Namibian company, the bank also provides international banking services through direct liaison with financial centres and institutions worldwide.

History

Bank Windhoek was founded in 1982 when a group of entrepreneurs, led by Koos Brandt, took over eight local branches of the Volkskas Bank. [8] The bank opened its first branch in Karasburg the same year it was founded. [9] In 1990, the bank merged with Boland Bank and Trust Bank, and opened a branch in Walvis Bay. [10] The bank opened its first Windhoek branch in 2001. [11]

Branch network and localised ATMs

Bank Windhoek has the largest branch network and footprint across Namibia. As of June 2022, it has 51 branches, agencies and specialist branches countrywide. The bank also has a corporate and institutional banking division with offices in Windhoek, Oshakati and Walvis Bay.

The bank also has 149 ATMs across Namibia and 253 Bank Windhoek Cash Express ATMs installed at various merchant locations countrywide in partnership with ATM Solutions Namibia.

Bank Windhoek is also the only bank in Namibia to offer ATMs with local language options. [12]

Ownership structure

Bank Windhoek, a fully owned subsidiary of the Capricorn Group, is the largest entity under the umbrella of Capricorn Investment Group Limited, branded as "Capricorn Group", a Namibian financial services group listed on the Namibian Stock Exchange, with interests in banking, insurance, asset management, investments and microfinance.

Until May 2017, Capricorn Group was a subsidiary of Capricorn Investment Holdings Limited (CIH). At present, the two largest shareholders of Capricorn Group are Capricorn Investment Holdings (CIH), which holds a 41% shareholding in Capricorn Group and the Government Institutions Pension Fund, which holds 25.9%.

Bank Windhoek contributes more than 95% of the total income of Capricorn Group and represents more than 89% of the group's net asset value. While BW Finance, a subsidiary of Bank Windhoek, is the vehicle through which the group does its micro lending business, which is a separate entity, as per regulation.

Capricorn Group Shareholders:
EntityShares
Capricorn Investment Holdings Ltd (CIH)40.7%
Government Institutions Pension Fund (GIPF)26%
Nam-mic Financial Services Holdings (Pty) Ltd9.9%
Capricorn Group Employee Share Trusts3.4%
4650 Other Shareholders hold the remaining20%

Directors

The directors of Bank Windhoek as of 1 July 2017 are:
Title / Role:Name and Surname:
ChairmanJohan Swanepoel
Managing DirectorBaronice Hans
Non-executive directorKoos Brandt
Non-executive directorThinus Prinsloo
Independent non-executive directorGida Nakazibwe-Sekandi
Independent non-executive directorBrian Black
Independent non-executive directorFrans du Toit
Independent non-executive directorGerhard Fourie

See also

Related Research Articles

<span class="mw-page-title-main">Walvis Bay</span> Coastal town in Namibia

Walvis Bay is a city in Namibia and the name of the bay on which it lies. It is the second largest city in Namibia and the largest coastal city in the country. The city covers a total area of 29 square kilometres (11 sq mi) of land. The bay is a safe haven for sea vessels because of its natural deep-water harbour, protected by the Pelican Point sand spit, being the only natural harbour of any size along the country's coast. Being rich in plankton and marine life, these waters also drew large numbers of southern right whales, attracting whalers and fishing vessels.

<span class="mw-page-title-main">Bank of America</span> American multinational banking and financial services corporation

The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded in San Francisco, California. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second-largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

<span class="mw-page-title-main">Argenta (bank)</span> Bank based in Belgium

Argenta is a bank based in Belgium that also operates in the Netherlands and Luxembourg. The Argenta headquarters are in Antwerp.

<span class="mw-page-title-main">National Bank of Pakistan</span> Government-owned commercial bank in Pakistan

National Bank of Pakistan (NBP) (نیشنل بینک آف پاکستان) is a Pakistani government-owned multinational commercial bank which is a subsidiary of State Bank of Pakistan. It is headquartered in Karachi, Pakistan. As of September 2020, it has 1,511 branches across Pakistan with assets of approximately USD 20.2 billion.

<span class="mw-page-title-main">Hosea Kutako International Airport</span> International airport in Windhoek, the capital of Namibia

Hosea Kutako International Airport is the main international airport of Namibia, serving the capital city Windhoek. Located well east of the city, 45 km (28 mi), it is Namibia's largest airport with international connections. From its founding in 1965 to the independence of Namibia in 1990, it was named J.G. Strijdom Airport. In 1990 the airport was renamed, in honor of Namibian national hero Hosea Kutako.

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of 31 March 2023, the bank has a national footprint of 1,780 branches and 2,963 ATMs.

<span class="mw-page-title-main">MCB Bank</span> Pakistani multinational commercial bank

MCB Bank Limited is a Pakistani multinational commercial bank which is based in Lahore, Punjab, Pakistan. The majority of shares are owned by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. The bank has a network of 1,600 branches in Pakistan.

<span class="mw-page-title-main">Garanti BBVA</span> Turkish bank

Garanti BBVA is a Turkish financial services company based in Turkey. 86% of Garanti's stakes are owned by the Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA).

<span class="mw-page-title-main">Komerční banka</span>

Komerční banka (“KB”) is a major Czech bank and the parent company of KB Group, a member of the Société Générale international financial group. KB is a universal bank providing a wide range of services in retail, corporate and investment banking complemented by specialised financial services produced by KB’s subsidiaries or other SG Group companies. KB Group operates in the Czech Republic and also provides services to corporate clients in Slovakia. It serves more than 1.6 million customers in 399 branches.

CIMB Group Holdings Berhad is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region.

Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets and Fourth largest by Market capitalisation.It sells financial services to large and mid-size companies, SMEs and retail businesses.

VakıfBank is the second largest bank in Turkey in terms of asset size, established with an initial capital of TL 50 million on January 11, 1954, and later started operating on April 13, 1954. Abdi Serdar Üstünsalih has been selected as the CEO of the Bank.

Wizzit is a provider of basic banking services for the unbanked and underbanked in South Africa. Its services are based on the use of mobile phones for accessing bank accounts and conducting transactions, in addition to a Maestro debit card that is issued to all customers upon registration. Wizzit is a branchless banking business, meaning that its services are designed so that customers can generally conduct transactions without the need to visit bank branches.

Bank Gaborone Limited is a commercial bank in Botswana. It is a subsidiary of the Capricorn Group.

Cavmont Bank Limited is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.

<span class="mw-page-title-main">FirstRand</span> South African financial service provider

FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.

Standard Bank Namibia Limited, commonly referred to as Standard Bank Namibia, is a commercial bank in Namibia. It is licensed, supervised and regulated by the Bank of Namibia, the central bank and national banking regulator. Since 19 November 2019, the stock of the holding company of this bank, going by the name Standard Bank Namibia Holdings Limited is listed on the Namibian Stock Exchange (NSX), where it trades under the symbol SNO.

Banking in Namibia started in June 1906, when German colonists formed the Deutsche Afrika Bank, which would become the First National Bank of Namibia. Following Namibian Independence in 1990, the Namibian banking sector came under the control of the new government which restructured the sector and created the Bank of Namibia as the central bank. Today banking is dominated by South African commercial banks who operate subsidiaries in Namibia.

<span class="mw-page-title-main">COVID-19 pandemic in Namibia</span> Ongoing COVID-19 viral pandemic in Namibia

The COVID-19 pandemic in Namibia is part of the worldwide pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2. The Minister of Health and Social Services, Dr. Kalumbi Shangula, announced on 14 March 2020 that the virus had reached Namibia. A Romanian couple constituted the two first cases and recovered 79 days after their initial diagnosis.

Bank BIC Namibia Limited is a commercial bank in Namibia. It is licensed by the Bank of Namibia (BoN), to operate and trade in the country. The bank is a subsidiary of the Bank BIC Group, a financial services conglomerate based in Angola, with banking subsidiaries in Angola, Portugal, Cape Verde and Namibia, and with a representative office in South Africa. 

References

  1. "Listed Companies".
  2. "Board of Directors of Bank Windhoek" (PDF). Archived from the original (PDF) on 2011-07-22. Retrieved 2010-09-25.
  3. https://www.bankwindhoek.com.na/Reports/2022%20Bank%20Windhoek%20Annual%20Report.pdf
  4. https://www.bankwindhoek.com.na/Reports/2022%20Bank%20Windhoek%20Annual%20Report.pdf
  5. https://www.bankwindhoek.com.na/Reports/2022%20Bank%20Windhoek%20Annual%20Report.pdf
  6. https://www.bankwindhoek.com.na/Reports/2022%20Bank%20Windhoek%20Annual%20Report.pdf
  7. https://www.bankwindhoek.com.na/Reports/2022%20Bank%20Windhoek%20Annual%20Report.pdf
  8. https://www.bankwindhoek.com.na/Documents/SpecialEditionNovember2022.pdf
  9. https://www.bankwindhoek.com.na/Documents/SpecialEditionNovember2022.pdf
  10. https://www.bankwindhoek.com.na/Documents/SpecialEditionNovember2022.pdf
  11. https://www.bankwindhoek.com.na/Documents/SpecialEditionNovember2022.pdf
  12. "BANK Windhoek yesterday announced the upgrade of its ATMs and the addition of three local languages". The Namibian. 23 November 2017.