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FMB Hockey Tournament prize presentation

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The tournament was split in two, it had the 6 aside and the 11 aside tournament. Both tournaments had male and female teams.

The Winners were as follows:

6 Aside Tournament

Men’s

  • Scorpions

Women’s

  • Genetrix Ladies

11 Aside Tournament

Men’s

  • Genetrix HC

Women’s

  • Genetrix Ladies

The grand prize for the 6 aside tournament was K80,000 for both the Men’s and Women’s League and the grand prize for the 11 aside tournament was K280,000 for both the Men’s and Women’s league.

In the picture above:
FMB models parading the trophies.

The post FMB Hockey Tournament prize presentation appeared first on First Merchant Bank Limited (FMB).


Malawi Writers Union (MAWU) Awards

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This weekend FMB will be involved in 2 events, the Malawi Writers Union (MAWU) Awards and the FMB Under-20 Regional Finals.

MAWU Awards
This year FMB donated K650,000 towards the MAWU Awards and the Award ceremony will take place on the 14th of November at the New Training Centre. The categories for the awardees and prizes are as follows:

  • Best Writer : MK200, 000
  • 2nd Best Writer : MK100, 000
  • 3rd Best Writer : MK 70, 000
  • 2 Consolation Prizes: MK15, 000 each
  • Best Woman Entry: MK 30, 000
  • Most Imaginative Writer : MK 30, 000
Download the program of events here…

The post Malawi Writers Union (MAWU) Awards appeared first on First Merchant Bank Limited (FMB).

FMB Malawi announces extended banking hours

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FMB Group GM, Corporate & Commercial Banking, Mr Phillip Madinga

FMB Group GM, Corporate & Commercial Banking, Mr Phillip Madinga

FMB has announced that it will extend its banking hours in selected branches/agencies in order to allow its valued customers avail banking services after closing their businesses/operations after 5:00pm.

The Service Centres that will provide extended banking hours are as follows:

  • Area 2 Agency (Lilongwe)
  • Haile Selassie Branch
  • Limbe Branch
  • Zomba Branch

New banking hours for these locations will be:

Mon – Fri: 8.00am – 3.00pm (Regular hours)
3.00pm – 6.00pm (Extended hours)
Saturday: 8.30am – 11.00am (Regular hours)
11.00am – 2.00pm (Extended hours)

 
The following services will be available during extended hours:

  • Cash deposits
  • Cheque deposits
  • Bill payments:
    • Water bills (SRWB/BWB/NRWB)
    • ESCOM (Pre-paid & Post-paid)
    • MASM subscriptions
    • DStv subscriptions
    • MRA payments
    • City Rate payments

Over time, FMB expects to roll-out these extended hours in its other branches and agencies after monitoring the progress of this initiative in the outlets it has been introduced.
Speaking at a press conference on Friday morning the newly appointed FMB Group General Manager, Corporate & Commercial Banking Phillip Madinga said; “FMB understands the pressures and time constraints that come with running a business and we realize that our customers cannot always make it to the bank within the regular banking hours as they coincide with their business operating hours; hence FMB’s decision to provide this convenience which is in tandem with our quest to always put the needs of our customers FIRST”

He went on to say that FMB’s quest is to be the bank of first choice to all socio-economic segments of bankable Malawians and marveled at the strides FMB has made in the 20 years since establishment.

FMB was the first privately owned commercial bank to be issued a banking license in Malawi; it started its operations in 1995, and has extended its footprint in the Southern African region with representation in Botswana, Mozambique and Zambia. It also owns a standalone subsidiary in Malawi: Leasing & Finance Company (LFC).

The post FMB Malawi announces extended banking hours appeared first on First Merchant Bank Limited (FMB).

FMB donates bore wells to Central High and Mount View primary schools

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On the 11th of February 2016, FMB donated 2 bore wells worth K3.6 million to Central High and Mount View Primary schools. This donation was a response to a request made by the school citing water problems which had been affecting the day to day running of the school; students were also tremendously effected because lack of water created a very unconducive environment for learning. FMB has a deliberate policy to support initiatives that assist in the advancement of education, health, sports and the environment in fulfilling its obligations as a good corporate citizen. Through this donation, learners will now concentrate on their education without worrying about the environment in which they learn.

In his remarks, speaking on behalf of both schools at the presentation of the bore wells, the schools’ Administrator, Mr. Harilal expressed his gratitude to FMB for the timely donation commending the “friendly bank” as a true friend indeed for coming to their aid in time of need.

The post FMB donates bore wells to Central High and Mount View primary schools appeared first on First Merchant Bank Limited (FMB).

FMB | Summary of Audited Consolidated and Results for the year ended 31 December 2015

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REVIEW OF THE YEAR

The economies in which the group has operations faced common challenges of expanding fiscal deficits, inflationary pressures, foreign exchange shortages and exchange rate volatility. Periods of very tight money market liquidity were also experienced in the various territories.Despite this background, we succeeded in maintaining balance sheet growth momentum with total group assets increasing by 43% to just short of K150 billion…

DIVIDEND

An interim dividend for the year 2015 of MK1,168.125 million or 50 tambala per share (2014:30 tambala) was paid during the year.

In order to maintain regulatory capital to support anticipated growth in risk assets, the Directors have decided that a second interim dividend will not be paid (2014: 30 tambala)

The Directors however propose a final dividend of MK467.25 million or 20 tambala per share (2014: 30 tambala) for approval at the forthcoming Annual General Meeting.

OUTLOOK

The macroeconomic environment is expected to remain challenging. Contractionary monetary policies are likely to continue to inhibit growth in our lending book and cause a narrowing of net interest margins. Foreign currency supply constraints may also persist. In response, we will focus on leveraging our enhanced service delivery platforms to expand our non-funded income base and pursue cost containment strategies.

Dheeraj Dikshit, Group Managing Director
Michael Kadumbo, Chief Finance Officer


Related download

The post FMB | Summary of Audited Consolidated and Results for the year ended 31 December 2015 appeared first on First Merchant Bank Limited (FMB).

LFC | Summarised results for the year ended 31 December 2015

FMB | Notice of 20th Annual General Meeting

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Notice is hereby given that the 20th Annual General Meeting of the Company will be held at the FMB Training Centre on 18th May, 2016 at 3:30pm to transact the following business:

1. Approval of Minutes of the Last Annual General Meeting
To approve the minutes of the 19th Annual General Meeting held on Wednesday 5th day of August, 2015

2. Audited Financial Statements
To receive and adopt the audited financial statements for the year ended 31st December, 2015 together with the reports of the auditors and directors thereon.

3. Dividend
To approve a final dividend of MK467.25 million (20 tambala per share) be paid in respect of the financial year ended 31st December, 2015.

4. Directors
4.1. To elect directors Mr Modecai Msisha and Mr Dheeraj Dikshit who retire by rotation but being eligible offer themselves for re-election.

4.2. To confirm the appointment of Mr Kevin Carpenter who was co-opted to the Board since the last Annual General Meeting.

4.3. To confirm the remuneration of the executive directors for the year ended 2015 and to authorize the non-executive directors to determine the remuneration of the executive directors for the forthcoming year.

4.4. To fix fees and sitting allowances for the Chairman and other non-executive directors for the year ending 31st December, 2016 as follows:

4.4.1. Directors fees

  1. Chairman from MK3,360,000.00 to MK4,200,000.00
  2. Other non-executive directors from MK2,940,000 to MK3,675,000.00

4.4.2. Sitting allowances

  1. Chairman from MK210,000.00 to MK262,500.00
  2. Other non-executive directors from MK168,000.00 to MK210,000.00

4.5. To approve the special remuneration paid to non-executive directors in accordance with the provisions of the articles of the company during the period ended 31st December, 2015.

5. Auditors
5.1. To approve the payment of audit fees of MK54,255,063.00 to KPMG in respect of the audit of the financial statements for the year ended 31st December, 2015.

5.2. To approve appointment of Deloitte as auditors.

6. Other Business
To transact such other business as may be transacted at an annual general meeting of members.

Oswald Chifundo Mtokale
Company Secretary

The post FMB | Notice of 20th Annual General Meeting appeared first on First Merchant Bank Limited (FMB).

FMB Under 20 Launch, 2016 Season

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FMB has been sponsoring the Under-20 Youth Football League since 2009; the sponsorship which started at K 4 million is now at K20 million, participation that started with 4 districts has grown to 9 districts. Last season, the winners of the League were Dedza Police Reserves with new entrants Mangochi Police Youth taking second place. This season the grand prize for the National Champions will be K1 million up from K750, 000 last year.


Cheque presentation

Signing of the 2016 contract

 

On the 28th of April, 2016, FMB hosted the Pre-Launch Cocktail at the Livingstone Café and the program of events included the following:

  • Unveiling of the ‘kit’ to be used by the four teams in the 2016 national finals of the FMB U-20 League
  • Announcement of prizes for the 2016 league season
  • Announcement of the media awards for the league
  • Cheque presentation of K20 million sponsorship money
  • Signing of the 2015 Contract – FMB / Football Association of Malawi (FAM) / National Youth Football Association (NYFA)

This year the launch will take place on Saturday, 14th May in Mangochi. In attendance will be government officials from the Ministry of Youth Development & Sports, FAM, Malawi National Council of Sports, National Youth Football Association, District Commissioner of Mangochi and/or Member of Parliament of the area.

Because of the ‘size’ of our sponsorship, we are now a major sponsor of football in the ‘Malawi Football Fraternity’ and our events are also accorded that recognition. We expect full support and visibility of members of staff at the FMB U-20 league matches happening in your areas. Attendance should be after working hours for all staff who are able to attend.

The post FMB Under 20 Launch, 2016 Season appeared first on First Merchant Bank Limited (FMB).


FMB | Blood Donation Drive

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On the 16th of April, 2016 FMB partnered with Malawi Blood Transfusion Services (MBTS) to conduct a Blood Donation Drive at FMB Head Office (Livingstone Car Park) in the City of Blantyre. 65 units of blood was collected versus a target of 100 units of blood. FMB’s partnership with MBTS started 5 years ago in an effort to support blood donation initiatives across the country; FMB carries out this initiative 4 times a year (once every quarter). The current target for MBTS is to collect 80,000 units of blood a year but they only manage to collect an average of 50,000 units every year. Initiatives like these by FMB do help MBTS get closer to its yearly target.

In the picture above:
An FMB member of staff donating blood at the most recent blood drive

The post FMB | Blood Donation Drive appeared first on First Merchant Bank Limited (FMB).

FMB rewards tobacco farmers through ‘Mlimi Asangalale Promotion’

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FMB Bank Malawi Limited has launched the ‘Mlimi Asangalale Promotion’ which encourages farmers to open a Makwacha Card Account in which tobacco proceeds will be deposited and from which purchases may be made thereafter.

The promotion runs from 9 May to 31 July 2016. This initiative also provides participants with the opportunity to win prizes.

Competition prizes are as follows:-

  • The grand prize is MK3,000,000
  • The second runner up will get MK1,000,000
  • The third runner up will receive MK500,000
  • There will be daily cash prizes of MK50,000 given to one lucky winner every day of the promotion.

Consolation prizes include mobile phones and clothing.

Farmers will be able to open a Makwacha Card Account for free, receive an ATM card that does not attract any service or withdrawal charges and are able to transact at Farmers World, Agora and other agricultural shops using the card.


The post FMB rewards tobacco farmers through ‘Mlimi Asangalale Promotion’ appeared first on First Merchant Bank Limited (FMB).

FMB | Release of 2015 annual report

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Below are experts from the Managing Director’s report.

2015 was a successful year in terms of our strategic initiatives both to grow our customer base and to increase operational efficiency across the group. However, several, mainly exogenous, factors caused us to fall short of our profitability targets. Principal amongst these was the general economic downturn in the region. Additionally, interventions by monetary authorities, aimed at restoring stability in foreign exchange and money markets, have negatively impacted on domestic net interest income and income from foreign exchange trading, both key income lines of the group.

Group Performance

Notable highlights of the group’s performance in 2015 were a 43% growth in total assets from K104.4 billion to K149.0 billion, a 60% increase in customer deposits from K64.5 billion to K103.2 billion and a more modest 4% increase in operating income from K17.8 billion to K18.5 billion…

Major Projects

In mid 2015, FMB successfully switched over to its new core banking system, Finacle. The new system gives us an enhanced control environment and numerous operational efficiencies such as straight through processing of Swift and RTGS transfers and bill payments…

Outlook

The short term macro economic forecasts for the region are not optimistic and we expect a continuation, to one degree or another, of the challenges faced in recent years. In particular, I echo the concern of our Chairman over the extent of the projected food deficit in Malawi, currently the main profit centre of the group…

Appreciation

Finally I would like to express my gratitude to the management and staff of all group companies for their efforts over the past year. Their commitment to the FMB group is the foundation on which our success has been built.

Dheeraj Dikshit
Group Managing Director


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Five tobacco farmers win MK50,000.00 each in the first draw of the Mulimi Asangalale Promotion

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Five tobacco farmers have won MK50,000.00 each in the first draw of the MULIMI ASANGALALE PROMOTION conducted at FMB Head Office in Blantyre on 19th May, 2016.The promotion is being run by FMB in partnership with Agora and Farmers World; it started on 9th May, 2016 and will run up to 31st July, 2016.

In the draw the five winners that emerged were from Mzuzu, Mponela, Chiradzulu, and two from Lilongwe.

Every day each week one tobacco farmer or club get a chance to win MK 50,000 in the promotion. In addition there will be grand prizes MK3, 000,000.00, MK1,000,000, MK500,000 and other consolation prizes of mobile phones and t-shirts to be won at the end of the promotion. MK250,000 is up for grabs to five lucky winners in draws which will be conducted weekly until the end of the promotion.

To enter the promotion a tobacco farmer or club only has to have their tobacco proceeds routed through their Makwacha account at FMB stands; there is no minimum amount to be routed so everyone qualifies.

The Makwacha account is an account that is available to all tobacco farmers and clubs. It comes with a free ATM card and has no ledger fees.

In the picture above:
The weekly draw in progress at FMB Head Office

The post Five tobacco farmers win MK50,000.00 each in the first draw of the Mulimi Asangalale Promotion appeared first on First Merchant Bank Limited (FMB).

FMB | Trading statement for the six months ending 30 June 2016

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In terms of the listings requirements of the Malawi Stock Exchange Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period.

First Merchant Bank Limited accordingly advises that its forecast profit after tax for the six months period ending 30 June 2016 is expected to be at least 30% below that achieved for the period ended 30 June 2015. The information on which this trading statement is based has not been reviewed or reported on by the Company’s external auditors.

The summary consolidated and separate financial statememts of the company for the six months period ending 30 June 2016 are expected to be published in the press in July 2016.

Oswald Mtokale
Company Secretary

30 May 2016

The post FMB | Trading statement for the six months ending 30 June 2016 appeared first on First Merchant Bank Limited (FMB).

FMB | Notice of final dividend in respect of year ended 31st December, 2015

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The shareholders of First Merchant Bank Limited, at the Annual General Meeting held on 18th May, 2016, approved the declaration of a final dividend of 20 tambala per share for the financial year ended 31st December, 2015; which together with a 50 tambala per share interim dividend paid on the 4th September, 2015 will bring the total dividends paid to MK1,635,375,000 (70 tambala per share) in respect of the financial year ended 31st December, 2015.

Members whose names will appear in the register as at close of business on the 10th June, 2016 will be eligible for this dividend payable on 17th June, 2016.

The register will be closed from 13th June, 2016 to 15th June, 2016 (both days inclusive) during which time no transfers will be registered.

Oswald Mtokale
Company Secretary

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FMB Fettes Customers at Lulu Album Launch

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Last Friday 3rd June, 2016, FMB gave its customers a rare treat by handing out 50 VIP tickets to 50 lucky customers to attend the Lulu music album launch called “Mwayenera” at COMESA hall in Blantyre. The tickets were a way of appreciating the customers for their constant support as well as promoting the local music industry.
Lulu is one of Malawi’s top urban artist who was launching his 5th career album

The post FMB Fettes Customers at Lulu Album Launch appeared first on First Merchant Bank Limited (FMB).


FMB Crowned Overall Winner at the BAM Sports Day

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On Saturday the 4th of June 2016, FMB participated in the annual Bankers Sports Day at the College of Medicine with determination and enthusiasm. In a very exciting day, FMB staff successfully competed in a variety of field and track events.


Major trophies won on display at Head Office

Team FMB performed extremely well, winning in two major categories (Football & Volleyball respectively), finishing second in netball with various individual field and track accolades won and above all winning the overall best performers trophy.

The post FMB Crowned Overall Winner at the BAM Sports Day appeared first on First Merchant Bank Limited (FMB).

FMB in 4th draw of Makwachas Mlimi Asangalale Promotion

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FMB conducted the fourth draw of its ‘Mlimi Asangalale’ promotion on Tuesday, 7th June, 2016 and pledged to uplift Malawi’s agricultural sector through support to farmers.

Speaking in Blantyre after the draw, Head of Private Business Banking Leman Chisi said the bank aims to support tobacco growers through the promotion by uplifting lives of local farmers through different prizes as well as proving that FMB is a partner of the country’s agriculture sector.

The post FMB in 4th draw of Makwachas Mlimi Asangalale Promotion appeared first on First Merchant Bank Limited (FMB).

FMB Treats Customers to Mi Casa Show

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FMB customers were last Saturday given a treat of their life when FMB thanked them with free 15 VIP tickets to 15 customers for Mi Casa, one of South Africa’s top music groups. The concert that took place at Bingu International Conference Center gave FMB customers the opportunity to mingle with fellow music lovers and take time from their busy work schedules.

Mi Casa is a house band based in JohannesburgSouth Africa and consisting of 3 members, Dr. Duda (producer) and pianist, J’Something (vocalist and guitarist) and Mo-T (trumpeter).

The post FMB Treats Customers to Mi Casa Show appeared first on First Merchant Bank Limited (FMB).

Malawi’s FMB Hockey League launch On Saturday

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After weeks of preparations, the FMB Hockey League finally kicks off at the weekend with the official launch on Saturday morning at the Limbe Country Club. Preparations of the K2.5 million league are complete.

The tournament is expected to be more competitive in both men’s and women’s categories.

This is one way in which FMB is helping develop sports in Malawi through various league sponsorships.

The post Malawi’s FMB Hockey League launch On Saturday appeared first on First Merchant Bank Limited (FMB).

Malawi’s FMB Hockey League launched in style

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The FMB Hockey League was finally launched on Saturday morning 11th June, 2016 at the Limbe Country Club.

The colorful event attracted different personalities who witnessed the historic launch of the K2.5 million hockey league. Hockey Association of Malawi (HAM) Acting General Secretary Chigomezgo Thindwa said they are grateful to First Merchant Bank for the continued support of the game of hockey for the past four years. FMB’s Limbe Branch Manager Grace Mtambalika assured HAM of FMB’s commitment to support and develop the game of hockey in Malawi.

This year, the FMB leagues will consist of the 8-a-side and 11-a-side league format.

The post Malawi’s FMB Hockey League launched in style appeared first on First Merchant Bank Limited (FMB).

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