FDH Bank
| 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]
Location
[edit]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]
Overview
[edit]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]
History
[edit]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]
Ownership
[edit]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]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | M Development Limited (MDL) of Malawi | 55.0 |
| 2 | Old Mutual of Malawi | 40.0 |
| 3 | FDH Employee Stock Ownership Plan | 5.0 |
| Total | 100.00 |
Branches
[edit]As 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]
Governance
[edit]Arthur 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 also
[edit]
References
[edit]- ^ Andrew Mtupanyama (6 November 2023). "Mpinganjira's cancer centre to open soon". The Nation (Malawi). Blantyre, Malawi. Retrieved 4 January 2024.
- ^ Reserve Bank of Malawi (22 June 2020). "Register of Licensed Banks". Lilongwe: Reserve Bank of Malawi. Retrieved 22 June 2020.
- ^ FDH Bank (22 June 2020). "The Headquarters of FDH Bank". Blantyre: FDH Bank Limited. Retrieved 22 June 2020.
- ^ "Location of the headquarters of FDH Bank Limited, Blantyre, Malawi" (Map). Google Maps. Retrieved 22 June 2020.
- ^ FDH Financial Holdings (24 February 2020). "FDH Financial Holdings, Financial Statements for the 12 Months Ended 31 December 2019" (PDF). Blantyre: FDH Financial Holdings. Retrieved 22 June 2020.
- ^ a b c FDHFHL (15 May 2020). "Profile of FDH Financial Holdings Limited (FDHFHL)". Blantyre: FDH Financial Holdings Limited (FDHFHL). Retrieved 22 June 2020.
- ^ Masina, Lameck (7 August 2015). "Controversy as government sells Malawi Savings Bank". London: African Business Magazine. Retrieved 23 April 2018.
- ^ Maurice Nkawihe (4 April 2018). "FDH Insists On K1.2 Billion Refund Over Malawi Savings Bank Deal - Bank Injects K6.6 Billion Capital". Nyasa Times. United Kingdom. Retrieved 23 April 2018.
- ^ Finance Monthly (27 April 2020). "FDH Bank Announces MK450 Million In Malawian Football Sponsorship". Lichfield, United Kingdom: Finance Monthly Magazine. Retrieved 22 June 2020.
- ^ Nyasa Times (22 June 2020). "FDH Bank Plc Announces Plans To List On Malawi Stock Exchange In August". Nyasa Times. Blantyre. Retrieved 25 June 2020.
- ^ FDH Bank (22 June 2020). "The Branch Network of FDH Bank". Blantyre: FDH Bank Limited. Retrieved 22 June 2020.
- ^ Chancy Namadzunda (22 June 2018). "Malawi: FDH Bank Launches Salima Branch, Donates to District Hospital". Nyasa Times via AllAfrica.com. United Kingdom. Retrieved 26 June 2018.
- ^ FDH Bank (22 June 2020). "FDH Bank Limited: Our Board". Blantyre: FDH Bank Limited. Retrieved 22 June 2020.
- ^ FDH Bank (22 June 2020). "FDH Bank Limited: Management Team". Blantyre: FDH Bank Limited. Retrieved 22 June 2020.