First Merchant Bank (FMB) is rebranding to First Capital Bank and will have the same name as other FMBcapital Holdings PLC’s banking operations in Botswana, Zimbabwe and Zambia.
The name change forms part of the launch of a new and cohesive brand identity for FMBcapital Holdings PLC’s banking operations in five countries with the company’s operations in Mozambique set to be rebranded early next year.
Fernando Rodrigues, CEO of First Capital Bank in Malawi, said the rebranding of its operations will give the bank’s business a further advantage as it continues to expand its customer base.
“Our team in Malawi has made a commitment to ensure that even as we expand our regional offering, we retain our focus on relationships when we work alongside our clients and communities,” says Rodrigues.
Rodrigues added that the spirit of First Capital Bank is also reflected in its new motto: Belief comes first.
“Belief came first for us when the bank was founded 23 years back. It was also the belief that propelled us forward to expand to other countries in the region – belief in our values, business model and importantly belief in our clients, country and the potential of our continent.”
First Capital Bank was founded in 1995 in Malawi, where it was known as First Merchant Bank. Since then the bank has progressively grown to become a nimble regional banking group offering a comprehensive range of business and personal banking products. The Group currently employs over 1,800 staff who service a client base of nearly 840,000.
“First Merchant Bank is proud to have become a key financial player in the Malawian economy and the lives of our clients. We are privileged to have grown with the country and look forward to the next phase of our journey as First Capital Bank,” said Hitesh Anadkat, Founder and Chairman of First Capital Bank.
“Over the past two decades we have seen Southern Africa begin to realise its enormous potential with businesses pursuing growth both domestically and regionally. This has meant that we also have to continuously improve and expand our service and product offering to continue to partner with them effectively.”
Dheeraj Dikshit, Group Managing Director of FMBcapital Holdings PLC, said the bank’s regional network is ideally suited to partner with clients as they expand their business into new markets.
He said: “Our group comprises a unified team offering integrated services across five markets. Now the single First Capital Bank name and brand will reflect this. Our regional reach not only means that clients can avail banking services and solutions across markets seamlessly, but also that their relationship with the bank extends into new markets.”
Last year the group acquired a majority shareholding in the holding company of Barclays Bank of Zimbabwe and as per the transition arrangement, the bank will migrate from the Barclays PLC brand to a co-brand for two years. The Zimbabwe operation will be rebranded as “First Capital Bank in association with Barclays”.