Standard Bank named 2022 bank of the year


By Frank Phiri:

Standard Bank plc’s zeal and determination in driving the country’s growth, coupled with excellent delivery of financial services, has earned it recognition by The Banker as Bank of the Year 2022 in Malawi.

The Banker is one of the world’s trusted publications by Financial Times that provides economic and financial intelligence for the global financial sector with objective and incisive business coverage and analysis.


The Banker has been a trusted source of banking information since 1926 and has since navigated its way through over 90 years of banking coverage with a reputation of accuracy, authority and integrity.

Standard Bank Chief Executive Phillip Madinga said the award highlights the bank’s commitment towards the growth of Malawi.

He said the recognition highlights the effective working partnerships that the bank is forging with customers, government, and various stakeholders in the country.


“We dedicate this award to our valued customers for choosing to partner us in their quest to grow Malawi. We believe the bank drives development in various sectors of the economy through our customers and partners —impacting the energy, manufacturing, transport, import and export as well as the agriculture sector – to mention a few,” he said.

He said the award reflects Malawi’s potential to set service standards globally.

“We believe this win amplifies Malawi’s potential on the global stage. Within our broader Standard Bank Group, Malawi is alongside South Africa in being recognised for this award” Madinga said.

The Malawi Stock Exchange-listed bank has assured stakeholders of continued quality financial services, which are a pillar for business success.

“This is a great motivation to put our customer first in responding to their needs and needs of the broader community. Our hope is to be more than a bank, championing both our financial services and our social impact,” Madinga said.

In April, Global Finance named Standard Bank plc as Best Bank in Malawi during the announcement of its 29th Annual Best Bank Awards for 2022.

Most recently in October, the Institute of Marketing Malawi awarded the Bank’s Phuka Incubator Programme as Best SMEs Initiative of the Year 2022, acknowledging the bank’s work in uplifting entrepreneurship and small businesses in Malawi.

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