Company type | Private company: Subsidiary of Centenary Group |
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Industry | Financial services |
Founded | March 23, 2023 |
Headquarters | , |
Key people |
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Products | Loans, Transaction accounts, Savings, Investments, Debit Cards |
Revenue | ![]() |
Total assets | MWK:122 billion (US$120 million) (March 2023) |
Website | centenarybank |
Centenary Bank Malawi, also Centenary Bank Malawi Limited, is a commercial bank in Malawi. It is one of the commercial banks licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. [2]
The headquarters and main branch of Centenary Bank Malawi Limited are located at Ekistics House, Convention Drive, Lilongwe 3, in Malawi. [3]
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). [4] The bank declared an after-tax profit of MWK 970 million (approx. US$955,000), for the 12 months ending on 30 June 2023. [1]
Note: US$1= approx. MWK1,067 on 30 June 2023.
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 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, that went into bankruptcy in December 2021. [5]
Centenary Bank rebranded from MyBucks Bank Malawi on 23 March 2023, [4] after attaining a commercial banking license from the Reserve Bank of Malawi, earlier that month. [2]
The table below, represents the shareholding in the stock of Centenary Bank Malawi Limited, as of December 2022. [6]
Centenary Bank Malawi Limited Stock Ownership | ||||||||||||
BranchesAs of February 2022 [update] , 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, Lilongwe, Dzaleka, Kasungu, Madisi, Mangochi, Mzuzu and Zomba. At that time, they also maintained 85 banking agents and 30 automated teller machines, across the country. [7] In April 2023, the bank had 14 brick and mortar branches across Malawi. [8] GovernanceAs of October 2023, the Chairman of the board of directors is Francis Z. Pelekamoyo, a former Governor of the Reserve Bank of Malawi. [9] [10] Zandile Shaba serves as the chief executive officer of the bank. 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Ethiopian Airlines operates it under a management contract and owns 49% of the airline after it emerged as the winner following competitive bidding. Britam Holding PLC is a leading diversified financial services group and is listed on the Nairobi Securities Exchange. The group has presence in seven Africa countries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The Standard Bank of Malawi, previously known as the Commercial Bank of Malawi, is a commercial bank in Malawi. It is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. ![]() First Capital Bank Mozambique (FCBM) is a commercial bank in Mozambique. It is licensed by the Bank of Mozambique, the central bank and national banking regulator. NICO Holdings plc is a diversified financial services group and is listed on the Malawi Stock Exchange. The Centenary Group of Companies, commonly referred to as the Centenary Group, is a privately owned conglomerate in Uganda. The anchor company in the group is Centenary Bank, the second-largest commercial bank in Uganda, based on assets. As of 31 December 2021 Centenary Bank had assets valued at USh4.8 trillion. References
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