First Capital Bank (FCB) is this month celebrating 30 years of growth and service since opening on 26th June 1995, with the festivities set to culminate this Sunday in a 30 Years Trophy match between FCB Nyasa Big Bullets and Silver Strikers at Bingu National Stadium in Lilongwe.
What began as a single branch in Blantyre has evolved into a dynamic regional financial group, now operating in six countries with a network of over 100 branches. The bank boasts an annual turnover exceeding $300 million and is proudly listed on the Malawi Stock Exchange (MSE).
“As a Bank with deep roots in Malawi, we take pride in our success both here in Malawi and regionally. It’s truly remarkable to think that this entire journey of growth and regional success began with just one humble branch in Blantyre,” noted FCB Chief Executive Officer Agness Jazza.
The story began in 1994, when Malawi had only two major banks, prompting the then Reserve Bank of Malawi (RBM) Governor, Dr. Francis Pelekamoyo, to advocate for increased competition in the financial sector.
In 1995, First Merchant Bank (FMB) was born. The first branch opened on 26 June at Delamere House, the most prestigious building in Blantyre at the time. In its first 15 months of operation, the bank earned a profit of K5.5 million (about $360,000). It had deposits of over K226 million and a strong balance sheet.
The bank’s growth began with steady branch expansion in Malawi, followed by its first acquisition in 2001, Leasing & Finance Company of Malawi and its listing on the Malawi Stock Exchange in 2006.
Regional expansion started in 2008 with the launch of Capital Bank in Botswana, followed by the 2013 acquisition of International Commercial Bank’s operations in Malawi, Mozambique, and Zambia. In 2017, FMB made headlines with the acquisition of Barclays Bank of Zimbabwe and Opportunity Bank in Malawi.
Operating under multiple brands in five countries, the group unified under the First Capital Bank name to streamline operations and strengthen its regional identity. In 2018, it established First Capital Shared Services in Mauritius to support its operations with centralised functions including technology, treasury, and risk management.
Group Managing Director Jaco Viljoen notes that today, four of the bank’s five operating countries each contribute over 20% to the group’s overall performance, a testament to the strength and balance of its regional footprint.
“We have successfully spread risk and built robust cross-border services, making banking simpler and more accessible for our customers across the region. Throughout this journey, ‘Belief comes First’ has been more than a tagline, it has been our compass. It reflects our confidence in our people, our clients, and in the opportunities ahead. That belief continues to power everything we do,” shares Viljoen.
As part of its 30th anniversary celebrations, First Capital Bank has organised a high-profile football match between FCB Nyasa Big Bullets and Silver Strikers, scheduled for this Sunday at Bingu National Stadium in Lilongwe.
Announcing the event at a press briefing held at the bank’s head office in Blantyre, FCB Head of Marketing Twikale Chirwa said customers will enjoy a 50 per cent discount on gate fees, in appreciation of their loyalty over the years.
