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Ecobank in Malawi

  • Key Figures
    Microeconomics information

    Ecobank Malawi Limited is a limited company incorporated under the Companies Act 1984 and registered in Malawi under the Banking Act, 1989. The Bank began operations as Ecobank Malawi Limited in April 2008 following acquisition of majority shareholding in Loita Bank Limited by Ecobank Transnational Incorporated, the ultimate holding company incorporated in Lome, Togo. The Bank provides universal banking services to consumer, commercial and corporate customers. The Bank currently has:

    • • 8 branches. 3 branches are in Blantyre, 3 branches in Lilongwe, 1 in Mangochi and 1 in Mzuzu.
    • • 28 ATMs spread across the country.
    • • 132 Xpress Points (Agency Banking) spread across the country.
    • • 142 Point-of-sale (POS) terminals and EcobankPay (QR codes in shops) merchants spread across the country.

    As at end of year, 2022 the bank’s Return on Equity (ROE) was at 40.8%.

    At the Year End 2022 (MK‘000)
    Total Assets 530,831,071
    For the Financial Year 2022 (MK‘000)
    Profit After Tax 18,170,737
  • General Information

    Area: 118,484 sq km

    Capital: Lilongwe

    Principal cities: Lilongwe

    Official language: English (official) Chichewa (national)

    Independence day: 6 July

    Population: 20,308,502 (CIA July 2021 est.)

    Demographic growth: 2.39% (CIA 2021 est.)

    Life expectancy: 72.16 years (CIA 2021 est.)

    Literacy rate: 69.8% (CIA 2021 est.)

    Religion(s): Christian 79.3%, Muslim 13.8%, other 6.7%, none 2.1% (CIA 2018 est.)

    Human development index: 0.483 (174th out of 189 countries. 2019)

    Currency: Malawian kwachas (MWK)

    GDP: 9,861.2 (in MK’billion)-RBM Nov 2021

    GDP per capital: $ 628.7 (RBM Nov. 2021.)

    Growth rate: 3.9% (RBM Nov 2021)20.4% (CIA 2013 est.)

    Rate of unemployment: 20.4% (CIA 2013 est.)

    Rate of inflation: 11.1 % (RBM Nov. 2021)

    Net budgetary position: -3.4% of GDP) (CIA 2017 est.)

    Balance of payment: -$591 million (CIA 2017 est.)

    Export partners: Belgium 16%, United States 8%, Egypt 7%, South Africa 6%, Germany 6%, Kenya 5%, United Arab Emirates 5% (CIA 2019)

    Import partners: South Africa 17%, China 16%, United Arab Emirates 9%, India 9%, United Kingdom 8% (CIA 2019)

    Contribution of various sectors to GDP: Agriculture: 28.6% Industry: 15.4% Services: 56 % (CIA 2019 est.)

  • Board of Directors

    Symon Msefula

    Board Chairman

    Raymond Fordwuo

    Managing Director

    Doreen Chanje

    Non-Executive Director

    Barry Ryan

    Non-Executive Director

    Gabriel Kambale

    Non-Executive Director

    Josephine Anan-Ankomah

    Non-Executive Director

    Frank Mvalo

    Non-Executive Director

    Estelle Nuka

    Non-Executive Director

  • Annual Reports
    2024 The Summary of Financial Statement for the Year Ended 31st December 2024 PDF 2.2 MB Download - 2024 The Summary of Financial Statement for the Year Ended 31st December 2024
    2023 Malawi Annual Report PDF 4.85 MB Download - 2023 Malawi Annual Report
    2023 Summary of Unaudited Results for the six months ended 30th June 2023 PDF 4.31 MB Download - 2023 Summary of Unaudited Results for the six months ended 30th June 2023
    2022 Summary of Audited Financial Statements for the year ended 31st December 2022 PDF 1.54 MB Download - 2022 Summary of Audited Financial Statements for the year ended 31st December 2022
    2022 Ecobank Malawi Limited Unaudited Financial Statements and Other Disclosures for the Period Ended 30th June 2022 PDF 1.52 MB Download - 2022 Ecobank Malawi Limited Unaudited Financial Statements and Other Disclosures for the Period Ended 30th June 2022
    2021 Summary of Audited Financial Statements for the year ended 31st December 2021 PDF 1.51 MB Download - 2021 Summary of Audited Financial Statements for the year ended 31st December 2021
    2018 Summary Audited Financial Statement PDF 191.98 KB Download - 2018 Summary Audited Financial Statement
    2013 Malawi Annual Report PDF 2.67 MB Download - 2013 Malawi Annual Report
    2012 Malawi Annual Report PDF 481.79 KB Download - 2012 Malawi Annual Report
    2011 Malawi Annual Report PDF 702.7 KB Download - 2011 Malawi Annual Report
    2010 Malawi Annual Report PDF 435.38 KB Download - 2010 Malawi Annual Report
    2009 Malawi Annual Report PDF 980.43 KB Download - 2009 Malawi Annual Report
  • Latest News
    2025 Ecobank FY 2024 Earning Release View
    2025 Ecobank named Africa’s Best Bank for Trade Finance in Global Finance Awards View
    2025 Ecobank Côte d'Ivoire Launches West Africa’s First Gender Bond to Accelerate Financial Inclusion for Women Entrepreneurs View
  • Forms, Documents and Tariffs
    Ecobank Malawi Limited - Revised Tariffs - Effective March, 2025 PDF 296.9 KB Download - Ecobank Malawi Limited - Revised Tariffs - Effective March, 2025
    Ecobank Malawi Limited - Revised Tariffs - Effective February, 2024 PDF 220.1 KB Download - Ecobank Malawi Limited - Revised Tariffs - Effective February, 2024
    Ecobank Malawi Limited - Revised Tariffs Effective 1st April 2023 PDF 1.53 MB Download - Ecobank Malawi Limited - Revised Tariffs Effective 1st April 2023
    Ecobank Malawi Limited - Revised Tariff Effective July 2022 PDF 1.46 MB Download - Ecobank Malawi Limited - Revised Tariff Effective July 2022
    New account application form -- Individual PDF 590.45 KB Download - New account application form -- Individual
    New account application form -- Entities (incorporated and non-incorporated) PDF 619.65 KB Download - New account application form -- Entities (incorporated and non-incorporated)

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