Email a copy of 'Standard Bank Malawi in 50 years anniversary' to a friend
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Email a copy of 'Standard Bank Malawi in 50 years anniversary' to a friend
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The 2019 season of TNM Super League kicks-off on Saturday April 13 2019 at Kasungu Stadium with the reigning champions...
KOMA CHEPETSANI MA ENTEREST PLEASE
How many clients houses have this bank sold to its staff at give away prices? Offering a 3 % interest. Gangster bank. Colonialists mentality. No Malawian at the helm. A bank that robs it’s customers
That is price that one gets when one uses a house as a collateral in a mortgage. If the loan is not serviced as per agreement between the mortgagee and mortgagor, the sale is triggered by the former to get back whatever was accrued – interest plus principal sum. The sale is regulated by the Registered Land Act (cap. 58:01). At the core of its use is the need to protect the interest of the mortgagee and mortgagor. Malawians are capable of running that bank. But time is not rip. A Malawian once headed it in an acting capacity, a… Read more »
Ndaphunziratu apa. I always thought National Bank was the first and oldest in Malawi. Happy Anniversary
the oldest is NBS Bank
When was NBS Bank established in Malawi?
NBS was established in 1964…
Oooh now it is clear. It was then a building society that dealt specifically in mortgages as per regulations outlined in the Building Societies Act in the Laws of Malawi that has over the years been amended.
NBS Bank, though transacting banking services, was not a commercial bank . It was a building society whose primary aim was to provide housing mortgages to its depositors ( the customers). It was previously called New Building Society. NICO Holdings acquired it and turned it from a building society to a commercial bank and renamed it NBS Bank. In the financial services industry, there are differences between a central bank, a commercial bank, an investment bank, a new building society, and an insurance company even though they all provide financial services. The Reserve Bank of Malawi has a long way… Read more »
Correct. That Commercial Bank of Malawi, now Standard Bank, is the oldest bank in the country stands!!
Chimulirenji, read the article carefully. It didn’t say that Standard Bank ( then called Commercial Bank of Malawi) was the first commercial bank in Malawi. For your information, the first commercial bank in Malawi was actually National Bank of Malawi (then called Barclays Bank).