First Merchant Bank Limited (FMB) is a public limited liability company incorporated in Malawi under the Malawi Companies Act, 1984. It is listed on the Malawi Stock Exchange and is registered as a commercial bank under the Banking Act 2010. It has four wholly owned subsidiaries incorporated in Malawi, The Leasing and Finance Company of Malawi Limited, a licensed financial institution engaged in deposit taking and asset finance, FMB Pensions Limited, a company administering pension funds, FMB Capital Markets Limited, a licenced portfolio manager and FMB Forex Bureau Limited, a licensed foreign exchange bureau. FMB also holds a 70% shareholding in Capital Bank Limited, a licensed commercial bank incorporated in Mozambique, a 38.60% shareholding in Capital Bank Limited, a licensed commercial bank incorporated in Botswana and 49% in First Capital Bank Limited, a licensed commercial bank incorporated in Zambia.