{{short description|Commercial bank in Malawi}}
{{Infobox company |name = NBS Bank |logo = |type = Public: MSE: '''NBS''' |company_slogan = |foundation = |location = Blantyre,0980857543 Malawi |key_people = '''Vizenge Kumwenda'''<br/>Chairman<br/> '''Temwani Simwaka '''<br/>CEO |num_employees = 342 (2018) |revenue = {{profit}} Aftertax: MWK:1.7 billion (US$2.35 million) (2018)<ref name="Four"/> |assets = MWK:123.1 billion (US$170 million) (2018)<ref name="Four"/> |industry = Banking |products = Loans, Savings, Checking, Investments, Debit cards, Credit cards, Mortgages |homepage = [https://nbs.mw/ Homepage] }}
'''NBS Bank Limited''', commonly referred to as '''NBS Bank''', is a commercial bank in Malawi. It is licensed as a commercial bank, by the Reserve Bank of Malawi, central bank and national banking regulator.<ref name="One">{{cite web| access-date=24 April 2018 |author=Reserve Bank of Malawi | url=https://www.rbm.mw/Supervision/BankSupervision/?activeTab=BASURegisteredBanks |title=List of Banks & Other Financial Institutions Supervised by the Reserve Bank of Malawi |date=24 April 2018 |publisher=Reserve Bank of Malawi | location=Lilongwe}}</ref>
==Location== The head office and man branch of NBS Bank are located in NBS House, at the corner of Chipembere Highway and Johnstone Road, in the city of Blantyre, the financial capital of Malawi. This location is often referred to as ''Ginnery Corner'', in the neighborhood known as ''Chichiri, Blantyre''.<ref name="Two">{{cite web|url=https://nbs.mw/index.php/contact-us |title=NBS Bank Malawi Limited: Contact Us |access-date=24 April 2018 | date=24 April 2018 |publisher=NBS Bank Limited |author=NBS Bank |location=Blanyre}}</ref> The geographical coordinates of this bank's headquarters are: 15°48'02.0"S, 35°01'20.0"E (Latitude:-15.800556; Longitude:35.022222).<ref name="Three">{{google maps|access-date=24 April 2018 | url=https://www.google.com/maps/place/15%C2%B048'02.0%22S+35%C2%B001'20.0%22E/@-15.8004855,35.0216799,118m/data=!3m1!1e3!4m5!3m4!1s0x0:0x0!8m2!3d-15.8005556!4d35.0222222 |title=Location of the headquarters of NBS Bank Limited}}</ref>
==Overview== NBS Bank is a midsized retail bank in Malawi. {{asof|December 2018}}, the bank's asset base was valued at MWK:123.1 billion (US$170 million), with shareholders' equity of MWK:11.5 billion (approximately US$16 million).<ref name="Four">{{cite web| url=https://www.nbs.mw/2015-10-22-13-36-29/downloadcenter/annual-reports-1/file/639-nbs-bank-2018-15th-annual-report |title=Annual Report and Financial Statements for the Twelve Months Ending 31 December 2018 |publisher=NBS Bank Limited | author=NBS Bank |location=Blantyre |accessdate=2 March 2020}}</ref>
==History== In 1964, ''Central Africa Building Society'', ''Commonwealth Century Building Society'' and ''First Permanent Building Society'' merged to form '''New Building Society''' (NBS). The institution converted into a commercial bank in 2004, following the issuance of a banking license by the Reserve Bank of Malawi, the national banking regulator.<ref>[http://www.nbsmw.com/profile.html History of NBS Bank]</ref>
==Ownership== The shares of the bank are traded on the Malawi Stock Exchange, where they are listed under the symbol '''NBS'''. The shareholders in the stock of NBS Bank included the following, as of December 2018:<ref name="Four"/>
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto" |+ '''Shareholding in NBS Bank''' ! style="width:2em;" | Rank !! Shareholder !!Percentage Ownership |- |1||NICO Holdings Plc||50.10 |- |2||Public Service Pension Trust Fund – CAM ||12.06 |- |3||Public Shareholding ||35.74 |- |4||National Investment Trust Limited||2.00 |- |4||NBS Bank Employee Share Ownership Scheme||0.10 |- |||'''Total'''||'''100.0''' |- |}
==Branches and departments== {{asof|April 2020}}, the bank maintains branches at the following locations. The branches are referred to as ''Service Centres''.<ref name="Five">{{cite web|access-date=24 April 2018 | url=https://www.nbs.mw/index.php/service-centres-quick-links | title=NBS Bank Limited: List of Networked Service Centres | date=24 April 2018 |publisher=NBS Bank Limited |author=NBS Bank |location=Blantyre}}</ref> # Mzuzu Service Centre: Mzuzu # Mzimba Service Centre: Mzimba # Nkhotakota Service Centre: Nkhotakota # Nkhata Bay Service Centre: Nkhata Bay # Dwangwa Service Centre: Dangwa # Rumphi Service Centre: Rumphi # Karonga Service Centre: Karonga # Mchinji Service Centre: Mchinji # Kasungu Service Centre: Kasungu # Lilongwe Service Centre: Lilongwe # Capital City Service Centre: Lilongwe # Dedza Service Centre: Dedza # Kanengo Service Centre: Kanengo, Lilongwe # Salima Service Centre: Salima # Liwonde Service Centre: Liwonde # Blantyre Service Centre: Blantyre # Ginnery Corner Service Centre: Chichiri, Blantyre '''Main Branch''' # Limbe Service Centre: Limbe # Zomba Service Centre: Zomba # Mangochi Service Centre: Mangochi # Mulanje Service Centre: Mulanje # Chichiri Mall Service Centre: Chichiri Mall, Chichiri, Blantyre # Nchalo Service Centre: Nchalo, Blantyre # Ntcheu Service Centre: Ntecheu # Balaka Service Centre: Balaka.
==Governance== Vizenge Kumwenda serves as the chairman of the eleven-person board of directors.<ref name="Six">{{cite web|author=NBS Bank |url=https://www.nbs.mw/index.php/2015-10-22-13-36-29/aboutus/board-of-directors |title=The Board of Directors of NBS Bank |access-date=24 April 2018 | date=24 April 2018 | publisher=NBS Bank Limited |location=Blantyre}}</ref> The chief executive officer is Kwanele Ngwenya, who is assisted by fifteen other senior managers in the day-to-day running of the company.<ref name="Seven">{{cite web|access-date=24 April 2018 | url=https://www.nbs.mw/index.php/2015-10-22-13-36-29/aboutus/management |title=The Senior Management Team of NBS Bank |date=24 April 2018 |publisher=NBS Bank Limited |author=NBS Bank |location=Blantyre}}</ref>
==Recapitalization== During 2015, NBS Bank fell below the minimum capital requirements for commercial banks in Malawi, under the Basel II financial guidelines. NBS Bank applied to the Reserve Bank of Malawi to be given time to implement a rights issue and restore compliance. That permission was granted, with a deadline of 30 June 2017. The capital call to existing shareholders was opened from 19 May 2017 and closed on 23 June 2017.<ref>{{cite news| url=http://mwnation.com/nbs-bank-moves-on-rights-issue/| title=NBS Bank Moves on Rights Issue |access-date=24 April 2018 |date=16 May 2017 |newspaper=The Nation (Malawi) | first=Orama |last=Chinamulungu |location=Blantyre}}</ref> A total of MWK:11.6 billion (approximately US$16.25 million) in new capital was raised.<ref name="Data">{{cite web| last=Times Reporter |url=https://www.times.mw/nbs-bank-sees-bright-future/ |title=NBS Bank sees bright future |access-date=25 April 2018 |date=1 January 2018 |newspaper=The Daily Times (Malawi) | location=Blantyre}}</ref> Other changes at the bank, in the same time frame, included retrenchment of some of the employees.<ref>{{cite web| url=https://www.times.mw/nbs-bank-staff-future-uncertain/| title=NBS Bank staff ‘future’ uncertain |accessdate=24 April 2018 |newspaper=The Daily Times (Malawi) |location=Blantyre |author=Caroline Kandieroon |date=25 May 2017}}</ref>
==See also== * List of banks in Malawi * Economy of Malawi * Reserve Bank of Malawi * Malawi Stock Exchange
==References== {{reflist}}
==External links== * [https://www.nbs.mw/ Website of NBS Bank] * [https://web.archive.org/web/20101103054104/http://www.rbm.mw/ Website of Reserve Bank of Malawi] * [http://www.mse.co.mw/ Website of Malawi Stock Exchange] {{Portal|Banks}}
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Category:Banks of Malawi Category:Banks established in 1964 Category:1964 establishments in Malawi Category:Companies listed on Malawi Stock Exchange