The Standard Bank of Malawi, previously known as the Commercial Bank of Malawi, is a commercial bank in Malawi. It is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator.
Location The headquarters of Standard Bank Malawi are located in the Standard Bank Centre, African Unity Avenue, Lilongwe 3, in Malawi's capital city.
Overview Standard Bank Malawi is a large financial services provider, serving the banking needs of large companies, small and medium enterprises, as well as individuals. As of December 2019, the bank's total assets were valued at MWK:375.26 billion (US$519 million), with shareholders' equity of MWK:87.24 billion (US$121 million).
History The bank was established in Malawi on 15 March 1969, as Commercial Bank of Malawi. The founding shareholders were (a) the government of Malawi (b) Press Holdings Limited and (c) Banco Pinto & Sotto Mayor. By the mid 1980s, the bank became a wholly Malawian enterprise, with shareholders being (a) Malawian Development Corporation (20 percent) (b) Press Holdings (40 percent) (c) Government of Malawi (30 percent) and (d) Admarc (10 percent). In 1998, the government of Malawi sold its 30 percent shareholding by floating the bank's stock on the Malawi Stock Exchange (MSE).
In 2001, Standard Bank, a large South African financial services conglomerate, acquired 60 percent shareholding in Commercial Bank of Malawi (CBM). Initially the name of the bank changed to Stanbic Bank Malawi and on 1 June 2007 to Standard Bank Malawi.
In 2023, the bank funded the poet Phindu Zaie Banda to perform her poem NTHOWA as part of an advertising campaign highlighting Malawi's progress and investment. and on the 60th anniversary of Independence in 2024, Banda was among four poets the bank had performing live via Facebook. The other three were Q Malewezi, Nyamalikiti Nthiwatiwa and Wanga.
Ownership The shares of stock of Standard Bank Malawi are listed on the Malawi Stock Exchange where they trade under the symbol STANDARD. As of 31 December 2018, the major shareholders in the bank were as listed in the table below.
+ Standard Bank Malawi Stock OwnershipRank Name of OwnerPercentage Ownership1 Standard Bank Group 54.702 Public18.853 NICO Holdings Limited18.204 Old Mutual Life Assurance Company Limited 4.895 Press Trust 2.116 Magetsi Pension Fund 1.25 Total100.00
Branches As of May 2020, the bank maintained networked branches at the following locations.
+ Standard Bank Malawi Branch List Rank Branch Name Branch Code Location 1 Blantyre Branch 1005 Blantyre 2 Capital City Branch 1015 Lilongwe 3 3 Limbe Branch 1004 Limbe 4 Ginery Corner Branch 1005 Blantyre 3 5 Zomba Branch 1006 Zomba 6 Mangochi Branch 1008 Mangochi 7 Balaka Branch 1009 Balaka 8 Luchenza Branch 1010 Luchenza 9 Ntcheu Branch 1011 Ntcheu 10 Mwanza Branch 1013 Mwanza 11 Dedza Branch 1014 Dedza 12 Lilongwe Branch 1016 Lilongwe 13 Salima Branch 1017 Salima 14 Kasungu Branch 1018 Kasungu 15 Dwangwa Branch 1019 Dwangwa 16 Mzuzu Branch 1021 Mzuzu 17 Mzuzu Digital Branch 1033 Mzuzu 18 Mzimba Branch 1022 Mzimba 19 Chichiri Branch 1024 Chichiri, Malawi 20 Mponela Branch 1030 Mponela 21 CBC Branch 1025 Blantyre 22 Kanengo Branch 1026 Kanengo 23 City Mall Branch 1031 Lilongwe 24 Karonga Branch 1037 Karonga 25 Nchalo Branch 1029 Nchalo 26 Bwaila Branch 1028 Bwaila 27 Gateway Mall Digital Branch 1032 Lilongwe 27 Total
Governance The chairman of the ten-person Board of Directors was Christopher Kapanga until his death on August 8, 2025.A replacement has not yet been defined. The managing director and CEO is Phillip Madinga.
See also
Standard Bank Group Stanbic Bank List of banks in Malawi
References
External links Website of Standard Bank Malawi Foreign Managers Cause Havoc At Standard Bank Malawi As of 9 March 2018. Standard Bank Malawi Takes Back Kubwalo-Chaika - K1.3bn Payout Package Scares Bank As of 9 November 2018.