Tags: Standard Bank

Standard Bank Malawi sustains profit momentum

  Despite a difficult operating environment characterised by high interest and inflation rates, which hampered borrowing and consumption, Standard Bank Malawi says it will sustain its healthy profit record. In 2014, the Malawi Stock Exchange (MSE)-listed bank recorded an increase in profit after-tax to K12.2 billion (US$27.1 million), according to the bank’s annual report released…

Standard Bank fire causes ‘extensive damage’

The fire that gutted the top floor of Standard Bank’s Lilongwe Branch building on Saturday evening caused ‘extensive damage’ to the Information and Technology (IT) department, according to an initial damage assessment. Lilongwe Police Station spokesperson Kingsley Dandaula, who accompanied senior Standard Bank officials, police detectives and other officers who carried out the initial damage assessment, said…

Standard Bank upgrading ATMs

Standard Bank Malawi will upgrade its automated teller machine (ATM) platform on Saturday and Sunday to “deliver excellent and consistent customer service”. A statement from the Malawi Stock Exchange (MSE)—listed bank’s management said there will be no ATM services from 6 am on Saturday, September 20 to 6 am on Sunday, September 21. “Our customers…

MRA anti-smuggling squad foils K500m bank robbery

Barely a week after Malawi President Peter Mutharika declared war on crime, robbers on Wednesday evening stole about K500 million (about $1.3m) cash from Standard Bank Mzuzu Branch located about 300 metres from Northern Region Police Headquarters. Northern Region Police spokesperson Maurice Chapola said the money was recovered the same night at Jenda in Mzimba,…

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…

Standard Bank pledges more support to power sector

Standard Bank Malawi Limited has said it will host an International Mining Conference between September and October this year after the completion of the geo-mapping exercise currently under way. The bank has said that although mining and power projects are capital intensive, it has the capacity to finance them and consequently unlock the country’s economic…