Tags: National Bank of Malawi

NBM wins Indebank bid

  National Bank of Malawi (NBM) emerged the preferred bidder for the recapitalisation of the partially-State owned Indebank beating two other bidders, Public Private Partnership Commission (PPPC) has announced. PPPC chief executive officer Jimmy Lipunga said this at a news conference in Blantyre on Friday saying the decision was made after considering the recommendations committee.…

Businesses to benefit from invoice-based loan

Businesses stand to benefit from invoice proceeds-based finance loan by ensuring that their working capital and cash flows are eased. Speaking to customers at Blantyre Sports Club last week, National Bank of Malawi (NBM) general manager Macfussy Kawawa said the product is intended to provide working capital to businesses. “NBM has introduced a number of…

Four Malawian banks fail to meet Basel II capital

Four of the Malawi’s 11 commercial banks were by June 30 yet to meet the new capital requirement of $5 million (about K2 billion) under Basel II, the Reserve Bank of Malawi (RBM) has said, clearly signalling their capital inadequacy. The second of Basel Accords issued by the Basel Committee on Bank Regulations, rolled out…

Banks ready to support Mtalimanja rice project

Mtalimanja Rice Project chief executive officer Richard Kamchacha has disclosed that three commercial banks have shown interest to fund the organisation after being impressed with the progress so far made at the rice scheme. According to Kamchacha, the banks that have shown interest include National Bank and Standard Bank while Malawi Savings Bank (MSB) already…

Bullish stock market rakes in K15.95 million

The country’s only bourse, the Malawi Stock Exchange (MSE) was bullish last week with National Bank and Press Corporation Limited (PCL) registering share price gains. According to the MSE, National Bank share price rose by K0.90 from K227 to K227.90 while PCL share price gained K0.45 from K310.15 to K310.60. Due to the price gains,…