Company type | Private company |
---|---|
Industry | Financial services |
Founded | July 15, 2008 |
Headquarters | , |
Key people |
|
Products | Loans, Transaction accounts, Savings, Investments, Debit Cards |
Revenue | Aftertax:MWK:11.43 billion (US$15.9 million) (2019) |
Total assets | MWK:218.2 billion (US$303 million) (2019) |
Number of employees | 1,000+ (2023) [1] |
Website | www |
FDH Bank, also FDH Bank 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 FDH Bank Limited are located on the First Floor of Umoyo House, at 8 Victoria Avenue North, in the city of Blantyre, the financial capital of Malawi. [3] 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). [4]
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). [5]
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). [6]
In July 2015, FDH Financial Holdings Limited successfully acquired 75 percent ownership of Malawi Savings Bank, 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. [6] [7]
As of April 2017 [update] , the stock of FDH Bank Limited, was owned by FDH Financial Holdings Limited of Malawi (75 percent) and the Government of Malawi (25 percent). [8] Subsequently FDH Financial Holdings Limited acquired 100 percent ownership of the bank. [9] In June 2020, Malawian print media reported that the stock of FDH Bank would list on the Malawi Stock Exchange, in August 2020. [10]
The table below, represents the shareholding in the stock of the holding company, FDH Financial Holdings Limited. [6]
FDH Financial Holdings Limited Stock Ownership | |||||||||||||||
BranchesAs of June 2018 [update] , FDH Bank maintained a total of 53 networked branches, and 91 automated teller machines, in all 27 districts of the country. [11] [12] GovernanceArthur Oginga, a non-executive board member, serves as the Chairman of the eleven-person board of directors. [13] Ellias Ngalande, serves as the chief executive officer of FDH Bank Limited. [14] See alsoRelated Research ArticlesWashington Mutual, Inc. was an American savings bank holding company based in Seattle. It was the parent company of WaMu Bank, which was the largest savings and loan association in the United States until its collapse in 2008. Bank One Corporation was an American bank founded in 1968 and at its peak the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004, with its CEO Jamie Dimon taking the lead at the combined company. The company had its headquarters in the Bank One Plaza in the Chicago Loop in Chicago, Illinois, now the headquarters of Chase's retail banking division. BDO Unibank, Inc., commonly known as Banco de Oro (BDO), is a Philippine banking company based in Mandaluyong. In terms of total assets, the firm is the largest bank in the Philippines and 15th largest in Southeast Asia as of March 31, 2016. BDO Unibank is also a member of SM Group. It is also the largest bank in the country by market capitalization. Spire Bank, formerly known as Equatorial Commercial Bank(ECB), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator. Fourth Financial Corporation was a Wichita, Kansas bank holding company that was formed in 1968, the largest and one of the oldest banks in Kansas as well as a dominant bank in Oklahoma when it was bought by Boatmen's Bancshares in 1995. Before Uganda's independence in 1962, the main banks in Uganda were Barclays ; Grindlays, Standard Bank and the Bank of Baroda from India. The currency was issued by the East African Currency Board, a London-based body. In 1966, the Bank of Uganda (BoU), which controlled the issue of currency and managed foreign exchange reserves, became the central bank and national banking regulator. The government-owned Uganda Commercial Bank and the Uganda Development Bank were launched in the 1960s. The Uganda Development Bank is a state-owned development finance institution, which channeled loans from international sources into Ugandan enterprises and administered most of the development loans made to Uganda. KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, KCB TMB Congo and KCB Bank Uganda Limited. Northwest Bank is a bank headquartered in Warren, Pennsylvania. It is the leading subsidiary of Northwest Bancshares, Inc., a bank holding company, and operates 170 branches in central and Western Pennsylvania, Western New York, Northeast Ohio, Appalachian Ohio, and Indiana. First Capital Bank Malawi Plc, formerly known as First Merchant Bank Plc, is a commercial bank in Malawi. It is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. It is a subsidiary of FMB Capital Holdings. National Bank of Malawi(NBM), is a commercial bank in Malawi. The bank is one of the commercial banks licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. 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 acquired by FDH Bank on 3 July 2016. Indebank was a commercial bank in Malawi. It derived its name from Investment and Development Bank of Malawi Limited, the original name at the time of its founding. Indebank is one of the commercial banks licensed by the Reserve Bank of Malawi, the national banking regulator. Access Bank Kenya (ABK), whose complete name is Access Bank (Kenya) PLC, formerly Transnational Bank Kenya PLC, is a commercial bank in Kenya. It is licensed and regulated by the Central Bank of Kenya, the national banking regulator. NCBA Group Plc, is a financial services conglomerate in East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast. 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. Equity Group Holdings Limited (EGHL), formerly Equity Bank Group, is a financial services holding company based in the African Great Lakes region. EGHL's headquarters are in Nairobi, Kenya, with subsidiaries in Kenya, Uganda, Tanzania, South Sudan, Rwanda, Democratic Republic of the Congo and a representative office in Ethiopia. FMBCapital Holdings Plc, also referred to as First Capital Bank Group, is a financial services holding company based in Mauritius. It operates commercial banks in the Southern African countries of Botswana, Malawi, Mozambique, Zambia and Zimbabwe, which trade as First Capital Bank. Press Corporation Limited, also Press Corporation Plc, is a business conglomerate, partly owned by Press Trust, a sovereign trust fund, of the government of Malawi, that is outside of the direct control of the Malawian government. Press Corporation Limited is the largest conglomerate in Malawi, and has ownership in 15 companies in Malawi, including 8 subsidiaries, 4 joint ventures and one associate company. 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. References
External links |