Madinga pledges to transform Standard Bank

Standard Bank plc newly appointed chief executive officer (CEO)Phillip Madinga has pledged to take the Malawi Stock Exchange-listed commercial bank to greater heights and transform it to be more than just a bank.

Madinga, who until his appointment was the bank’s head of personal and business banking, was yesterday reacting to his appointment effective January 1 2021 to succeed William Le Roux.

“I am just really excited by the appointment and delighted by the confidence that Standard Bank Group and our board has shown in appointing me as the first Malawians CEO,” he said.

Madinga said as one of the top banks in the Malawi market, they want to support the country’s growth “as i take the bank to the top”.

 A statement signed by Standard Bank plc board chairperson Ngeyi Kanyongolo yesterday says Madinga brings extensive experience in the banking and financial services industry acquired over the past 26 years.

The statement further says Madinga holds a Master of Business Administration and a Bachelor of Business Adminstartion (Honours) from University of Stellenbosch Graduate Business School in South Africa.

He also holds a Bachelor of Social Science majoring in economics from Chancellor College—a constituent college of the University of Malawi.

From 2002 to 2005, Madinga was head of corporate banking for Ecobank then trading as Loita Investment Bank. In 2005, he was appointed head of corporate and investment banking for Standard Bank plc, a position he held until 2008.

In 2008, he was promoted to director of corporate and investment banking until 2013 when he left to join FDH Bank plc as its managing director.

In 2016, he left FDH Bank and joined First Capital Ban (FCB) as group general manager for corporate and commercial banking. A year later, Madinga moved from FCB to Join NBS Bank plc as the bank’s chief commercial Officer.

In January this year, he returned to Standard Bank.