Eswatini Bank History and Operations

Eswatini Bank has a rich history that dates back to 1917, when it was founded as the Merchants Bank of Eswatini.

The bank's early operations were focused on providing financial services to the local community, including farmers and traders.

The bank's headquarters was initially located in the town of Mbabane, and it quickly grew to become one of the largest banks in the country.

Eswatini Bank has a long history of innovation, having introduced the first automatic teller machine (ATM) in the country in the 1980s.

Eswatini Bank offers a range of services to cater to the diverse needs of its customers.

Personal banking services include account management, loan facilities, and credit cards.

The bank's online banking platform allows customers to manage their accounts, pay bills, and transfer funds remotely.

Mobile banking services are also available, enabling customers to conduct transactions and access their account information on the go.

The bank's customer service team is available to assist with any queries or concerns customers may have.

Eswatini Bank is committed to providing secure and convenient banking services to its customers.

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Eswatini Bank is 100 percent owned by the Government of Eswatini. This means that the government has complete control over the bank's operations and decision-making processes.

The bank has a strong presence in Eswatini, with a total of 11 branches across the country as of March 2018.

You can find the Main Branch located in the Engungwini Building on Gwamile Street in Mbabane.

The Mbabane Commercial Branch is situated in the Umlunguzi Wendlovu Building, also in Mbabane.

The bank's branches are spread out across the country, with locations in Manzini, Matsapha, Piggs Peak, Nhlangano, Siteki, Matata, Simunye, Siphofaneni, and Ezulwini Valley.

Here's a list of all the bank's branches:

The banking system in Eswatini has a clear three-tier structure. There's the Central Bank, four commercial banks, and one building society.

The Central Bank of Eswatini is responsible for managing the country's foreign exchange reserves and regulating financial institutions. It's the monetary authority that oversees the banking system.

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There are four commercial banks operating in Eswatini: First National Bank of Eswatini, NedBank, SwaziBank, and Standard Bank. SwaziBank is owned by the GKoE.

Each of these commercial banks has at least eight branches, offering normal banking services to customers. The interest rates on borrowing are the same as in South Africa, with a prime rate of 11.0 percent.

The corporate tax rate in Eswatini is 27.5 percent. There are no exchange regulations affecting transactions within the Common Monetary Area.

Export financing is available through the Export-Import Bank, but only for Swati partners. Project financing is available through multilateral institutions like the World Bank and African Development Bank.

The following banks operate in Eswatini:

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Recommended read: Firstbank Digital Banking

The Eswatini Bank has a rich history that dates back to 1917 when it was established by an Act of Parliament. The bank was initially known as the Swaziland Bank Limited.

In 1982, the bank's name was changed to the Eswatini Bank Limited, reflecting the country's name change from Swaziland to Eswatini. The bank has since undergone several transformations to meet the evolving needs of its customers.

The Eswatini Bank is a state-owned bank that plays a vital role in the country's economic development. With a strong presence in the financial sector, the bank offers a range of services to individuals, businesses, and government institutions.