First Capital Bank entices civil servants to apply for K1m loan to win school fees
Civil servants who can apply for a minimum of K1 million and above from First Capital Bank stand a chance to win school fees for their children or dependents, with a grand prize of K2 million as well as K250,000 monthly prizes over the next few months.
Other amazing prizes of the ‘Back-to-School’ promotion, under First Capital Bank’s consumer lending function, include branded school bags and farming equipment.
According to First Capital Bank Head of Consumer Lending, Rejoice Mambo Chisi, the Bank would like to incentivize existing customers who would like to access loan top ups, but also encourage potential customers to access the First Capital Bank Civil Servant loans.
“The Civil Servant loan is fast, flexible, and affordable and does not require any form of collateral or security as long as one is permanently employed by the Government of Malawi.
“The loan, which is processed in 48 hours, can be used for purchase of personal assets, school fees, farming activities and business startups amongst other things,” she said.
For more information, customers are encouraged to visit their nearest branch or call 0891001111.
The Back-to-School promotion comes after the success of ‘Zanga Phee’ that run from April to July that also had a grand prize of the whooping K1 million that was won by Mzuzu-based civil servant, Crivis Chirwa — which Head of Marketing, Twikale Chirwa described as successful having received an impressive number of civil servants’ participation across the country during its three months campaign.
Chirwa said last month that since the promotion was launched in April the bank disbursed K10 billion in loans to civil servants in response to their needs and he pledged that First Capital Bank continue offering loans under this civil servants loan facility.
First Capital Bank — which is the main subsidiary of FMB Capital Group in Malawi — has over the years, tremendously experienced growth since 1995 when it was founded by Hitesh Anadkat as First Merchant Bank with only one branch in Delamere House in Blantyre.
It is the country’s first private bank and was granted the third-ever banking license by the Reserve Bank of Malawi. It is headquartered and main branch in Livingstone Towers, along Glyn Jones Road, in the central business district of Blantyre City.
With focus on Malawi’s corporate market, and with a large emphasis on service and customer relationships, First Capital had a successful start and began to show profits after only two years of trading.
In 2000, First Capital wholly acquired the Leasing & Finance Company Malawi Limited, which was since been dissolved and merged into First Capital Bank Malawi.
In 2008, the Bank led a consortium that was granted a banking license in Botswana, where a subsidiary of FMB Capital Holdings Plc, First Capital Bank Botswana Limited trades.
The bank expanded its regional footprint in 2013, with the acquisition of ICB Banking Group’s businesses in Malawi, Zambia and Mozambique and in December 2017, First Capital Bank Malawi de-listed its shares from the Malawi Stock Exchange and the value of its stock shares were acquired by the newly-created holding company, FMB Capital Holdings Plc, whose shares are now listed on the MSE.
Member companies of the FMBCapital Holdings Group include First Capital Bank Malawi Limited at 100% ownership; First Capital Bank Botswana; First Capital Bank Mozambique at 40% ownership (established July 2008); First Capital Bank Mozambique at 70% ownership (acquired June 2013); First Capital Bank Zambia at 49% ownership (acquired June 2013) and First Capital Bank Zimbabwe at 62% ownership (acquired October 2017).
The Bank’s operational branches in Malawi are Blantyre Branch (First House, Glyn Jones Road); Capital City Branch (Chief M’mbelwa House, Robert Mugabe Crescent, City Centre); Limbe Branch (FMB Building, Churchill Road); Lilongwe Branch (Old Kandodo Building, Kamuzu Procession Road); First Corporate Service Branch (Livingstone Towers, Glyn Jones Road); Mzuzu Branch (Orton Chirwa Avenue) and Zomba Branch (Kamuzu Highway & Main Road).
In addition to the seven brick-and-mortar branches, the bank maintains another 22 agency banking locations, where many of its financial institution’s services can be accessed.
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