FDH Bank, also FDH Bank Limited, is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

Malawi Malawi, officially the Republic of Malawi, is a landlocked country in Southeastern Africa. It is bordered by Zambia to the west, Tanzania to the north and northeast, and Mozambique to the east, south, and southwest. Malawi spans over and ...

. 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, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

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 a population of 800,264 . It is sometimes referred to as the commercial and industrial capital of Malawi as opposed to the political capital, Lilongwe. It is ...

, 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, 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 Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

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 th ...

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

of the holding company, ''FDH Financial Holdings Limited''.

Branches

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

automated teller machines Automation describes a wide range of technologies that reduce human intervention in processes, mainly by predetermining decision criteria, subprocess relationships, and related actions, as well as embodying those predeterminations in machine ...

, in all 27 districts of the country.

Governance

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

Chairman The chair, also chairman, chairwoman, or chairperson, 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 gro ...

of the eleven-person board of directors. Ellias Ngalande, serves as the

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

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