FDH Bank

FDH Bank Limited
Private company
Industry Financial Services
Founded 2008 (age 9–10)
Headquarters Blantyre, Malawi
Key people
 Mark Mikwamba
Chairman
Thomson F. Mpinganjira
Managing Director
Products Loans, Transaction accounts, Savings, Investments, Debit Cards
Revenue Decrease:Aftertax:US$4 million (MWK:2.85 billion) (2016)
Total assets US$189.64 million (MWK:135.3 billion) (H1:2017)
Website Homepage

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.[1]

Location

The headquarters and main branch of FDH Bank Limited are located in Umoyo House, at 8 Victoria Avenue North, in the city of Blantyre, the largest city and financial capital of Malawi.[2] 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).[3]

Overview

As of 30 June 2017, the bank was a medium-sized financial services provider with assets valued at MWK:135.3 billion (approx. US$189.64 million), with shareholders' equity valued at MWK:20.9 billion (approx. US$29.3 million).[4]

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).[5]

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.[5][6]

Ownership

As of April 2017, the stock of FDH Bank Limited, was owned by the following entities:[7]

FDH Bank Limited Stock Ownership
RankName of OwnerPercentage Ownership
1FDH Financial Holdings Limited of Malawi75.0
2Government of Malawi25.0
Total100.00

The table below, represents the shareholding in the stock of the holding company, FDH Financial Holdings Limited.[5]

FDH Financial Holdings Limited Stock Ownership
RankName of OwnerPercentage Ownership
1M Development Limited (MDL) of Malawi55.0
2Old Mutual of Malawi40.0
3FDH Employee Stock Ownership Plan5.0
Total100.00

Branches

As of June 2018, FDH Bank maintained a total of 53 networked branches, and 91 automated teller machines, in all 27 districts of the country.[8][7][9]

Governance

Mark Mikwamba, a non-executive board member, serves as the Chairman of the six-person board of directors. Thomson Mpinganjira, an executive board member is the managing director of FDH Bank Limited.[10]

See also

References

  1. ↑ Reserve Bank of Malawi (23 April 2018). "Register of Licensed Banks". Lilongwe: Reserve Bank of Malawi. Retrieved 23 April 2018.
  2. ↑ FDH Bank (23 April 2018). "The Branch Network of FDH Bank". Blantyre: FDH Bank Limited. Retrieved 23 April 2018.
  3. ↑ Google (23 April 2018). "Location of the headquarters of FDH Bank Limited, Blantyre, Malawi" (Map). Google Maps. Google. Retrieved 23 April 2018.
  4. ↑ FDH Bank (30 June 2017). "FDH Bank Limited Summarized Financial Statements for the half year ended 30th June 2017". Blantyre: FDH Bank Limited. Retrieved 23 April 2018.
  5. 1 2 3 FDHFHL (23 April 2018). "Profile of FDH Financial Holdings Limited (FDHFHL)". Blantyre: FDH Financial Holdings Limited (FDHFHL). Retrieved 23 April 2018.
  6. ↑ Masina, Lameck (7 August 2015). "Controversy as government sells Malawi Savings Bank". London: African Business Magazine. Retrieved 23 April 2018.
  7. 1 2 Nkawihe, Maurice (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.
  8. ↑ FDH Bank (23 April 2018). "The Branch Network of FDH Bank". Blantyre: FDH Bank Limited. Retrieved 23 April 2018.
  9. ↑ Namadzunda, Chancy (22 June 2018). "Malawi: FDH Bank Launches Salima Branch, Donates to District Hospital". Nyasa Times via AllAfrica.com. United Kingdom. Retrieved 26 June 2018.
  10. ↑ FDH Bank (23 April 2018). "FDH Bank Limited: Our Board". Blantyre: FDH Bank Limited. Retrieved 23 April 2018.
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