Malawi’s FMB takes over Barclays Bank Zimbabwe
BARCLAYS Plc has sold its majority stake in its Zimbabwean operation to Malawi’s First Merchant Bank (FMB), putting an end to months of a fierce bidding war to take over one of the country’s iconic financial institutions, Zimbabwe Independent can exclusively report. Barclays Bank Zimbabwe was established in 1912, and has operated in the country […]
Malawian Bank Staff Complain Over Racist Boss At First Merchant Bank
First Merchant Bank (FMB) staff members are bitterly complaining over racist attacks on fellow members of staff especially from credit department by one of the top managers at the bank, Kobus Louw. Nyasa Times can reveal that Louw, an expatriate from South Africa has been abusing staff members from the credit department by calling them […]
Malawian First Merchant Bank bank eyes Barclays Bank Zimbabwe
Malawian banking group First Merchant Bank (FMB) is in talks with Barclays PLC to buy its Zimbabwean unit. Last year, Barclays PLC downgraded Barclays Zimbabwe to its non-core division with an intention to dispose it in the future. Barclays PLC owns 68% shareholding in Barclays Zimbabwe. In a cautionary statement yesterday, FMB said it was […]
