OIBM shuts down branches, fires employees

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Opportunity International Bank of Malawi (OIBM) has closed some of its branches and laid off employees, Malawi24 has learnt.

According to a source who confided in Malawi24, the bank has closed three branches in the Northern Region and all employees at the closed branches have been fired. Ndirande-Branch-Opportunity-International-Bank-of-Malawi-OIBM

“In the north they have closed three branches namely Chitipa, Nkhatabay and Jenda in a way of retrenchment. The bosses went with the Police and told everybody to hand over all the documents,” said the source.

The source added that the bank management initially tried to fire employees who were deemed to be underperforming but the plan failed.

Malawi24 understands the downsizing, which comes months after the bank was sold to Mybucks, will affect 75% of staff members at the financial institution.

Meanwhile, the axed staff members have been told to meet bank managers on Friday at Mzuzu Hotel.

 

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46 Comments

  1. National & Standard Banks hv realised above K19bn ñ K13bn profit respectively so Opportunity Bank must read businesses environment n bring in new strategies.

  2. if you want change be the change you want to see in the world….blaming the gvt cant help,lets learn to do things on our own#proud to b a MALAWIAN

    • What do you mean by working on our own? I tell you that there are many things that will affect your ‘working on your own’ if govt micro and macro economic policies are upside down.

    • let suggest that micro and macri economic policies dont happen,the reason that malawi is suffering is because we havent adapt to change and we are so negative on everything

    • let suggest that micro and macri economic policies dont happen,the reason that malawi is suffering is because we havent adapt to change and we are so negative on everything

  3. Bank mmudzi yavuta guys,sizidati coz other banks will follow suit.nkhani siboma koma kungoti anthuwa ndiwoipa mtima.munthu ukafuna ngongole zochitika mbweeee,mukuona ngati business ingayende opanda makasitomala???? Mabank achimalawi ngopusa heve.

  4. Obama will be out of office soon in US I suggest we must call him to govern the country just for five years may be we can go ahead with some miles otherwise idiots, thieves and selfish people are all over Malawi

  5. zovetsa chisoni pongoganizira ulova ndi maluzi ali pamalawi.pakulowa tchito pamakhala mavuto zochita zochuluka MSCE ena ukuva DIPROMA ee DGREE,MASTER’S,PHD.koma kutha kwatchito kumatha ngati mkodzo?zoona zimenezi.