Bank Windhoek
 | |
| Company type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1982 |
| Headquarters | Windhoek, Namibia |
Key people | Koos Brandt, Chairman Christo de Vries, Managing Director[1] |
| Products | Loans, Sme facilities, agri Facilities, Checking, Savings, Investments, Debit Cards, Pertrol card |
| Total assets | N$ 30.9 billion (December 2015) |
Number of employees | 1,400+ (2016) |
| Website | www |
Bank Windhoek Limited, commonly referred to as Bank Windhoek, is a commercial bank operating in the Namibian market. Bank Windhoek Ltd conducts business as a registered bank and provides comprehensive banking services to its clients in Namibia. While being an autonomous Namibian company the bank also provides international banking services through direct liaison with financial centres and institutions worldwide. The bank is one of the commercial banks licensed to operate in Namibia by the Bank of Namibia, the national banking regulator.
Bank Windhoek has a strong track record of making banking more accessible in remote areas of Namibia. Of all commercial banks operating in the country, Bank Windhoek has the largest branch network and footprint across Namibia. As of June 2016 Bank Windhoek has 55 branches, agencies and specialist branches countrywide. The bank also has a corporate and executive banking division with offices in Windhoek, Oshakati and Walvis Bay. Bank Windhoek offers foreign exchange services throughout its branches and through a joint venture with American Express, which has various outlets in Namibia. Bank Windhoek has 107 ATMs across Namibia and 258 Bank Windhoek Cash Express ATMs installed at merchants countrywide in partnership with ATM Solutions Namibia.
Bank Windhoek was established in 1982, when a group of Namibian entrepreneurs took over eight local branches of Volkskas Bank. The aim was to create a financially independent bank for Namibians in Namibia. Over the years, Bank Windhoek has built a strong financial position and achieved remarkable growth.
Overview
With its slogan "Together we do better", Bank Windhoek strives "to be the preferred bank in Namibia" and its purpose is "to make banking a rewarding experience" for Namibians. The business operation is built on teamwork, excellence, learning, passion, integrity and innovation, while service values are friendliness, helpfulness, empathy, professionalism, competency and efficiency. As of December 2015, Bank Windhoek reported total assets of N$30.9 billion (Source document: Bank Windhoek Interim Results December 2015).
Bank Windhoek is the largest entity under the umbrella of Bank Windhoek Holdings Ltd, a Namibian financial services group listed on the Namibian Stock Exchange, in which Capricorn Investment Holding (CIH) is the majority shareholder. Bank Windhoek Holdings Ltd and its subsidiaries (the group) are committed to the principles of corporate governance, which are characterised by discipline, transparency, independence, accountability, responsibility, fairness and social responsibility. By subscribing to these principles, the group believes that all stakeholders’ interests are promoted, including the creation of long-term shareholder value. The board and its subcommittees are responsible for ensuring the appropriate application of governance practices and principles contained in the Corporate Governance Code for Namibia (NamCode).
The company has a unitary board, consisting of executive, non-executive and independent directors. Currently, ten members constitute the board of Bank Windhoek, with two executive directors and four independent non-executive directors. Bank Windhoek is the flagship brand of the Bank Windhoek Holdings group. Bank Windhoek Holdings Limited is a subsidiary of Capricorn Investment Holdings, a regional financial services group with interests in banking, insurance, asset management, investments and micro finance.
Bank Windhoek has a proud Namibian heritage and is committed to contribute to the socio-economic development of Namibia, especially in the area of education, job creation, entrepreneurship, health, sport, culture and welfare.
Ownership
Bank Windhoek is a 100% subsidiary of Bank Windhoek Holdings Limited (BWH). BWH is a subsidiary of Capricorn Investment Holdings (CIH), which holds a 55% shareholding in BWH.
Bank Windhoek contributes more than 95% of the total income of BWH and represents more than 89% of the group's net asset value.
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.
Bank Windhoek is the only bank operating in the Namibian market with close to 100% Namibian ownership.
Group structure
The following entities have a large shareholding in Bank Windhoek Holdings Ltd:
- Capricorn Investment Holdings Ltd (CIH) – 55%
- Nam-mic Financial Services Holdings (Pty) Ltd – 9.4%
- Namibia Strategic Investments (Pty) Ltd – 8%
- BWH Group Employee Share Trusts – 3.8%
- 4700 Other Shareholders – 23.8%
Directors
The directors of Bank Windhoek as of 1 July 2016 are:
- Koos Brandt - Non-executive Chairman
- Johan Swanepoel - Non-executive Director, Group Managing Director (CIH)
- Thinus Prinsloo - Non-executive Director, Managing Director (BWH)
- Baronice Hans - Managing Director (BW)
- Christo de Vries - Executive Director (until September 2016)
- Gida Nakazibwe-Sekandi - Non-executive Director (until September 2016)
- Matheus Kristof Shikongo - Independent Non-executive Director
- Brian Black - Independent Non-executive Director
- Frans du Toit - Independent Non-executive Director
- Gerhard Fourie- Independent Non-executive Director
See also
External links
- Bank Windhoek official website
- Bank Windhoek Financial Statements & Annual Reports
- Barclays, Bank Windhoek Deal Is Off