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MyBucks Banking Corporation has announced that it has introduced unsecured bid bonds of up to K100,000,000 in a bid to support Corporates and Small and Medium enterprises which are into executing contracts and tenders so that they meet clients demands in a timely manner when awarded contracts.

Commenting on the development, MyBucksโ€™ Head of Credit, Loti Nyasulu said โ€œthe development is in line with the bankโ€™s goals of leveraging on partnerships to provide better service for our clientele. As a financial institution that values partnerships, we have seen it important to bring in a solution to our clients with an intent of unlocking their business potentials so that they can become more successful in executing their client demands when they get selected as the successful biddersโ€, he said.

Nyasulu highlighted that as a procedure, โ€œa client should first of all have an account with the bank, then submit their application along with their latest management accounts and audited accounts through their domiciled branches or Relationship Managers and get assisted within 48 hoursโ€.

He further said that โ€œas a bank, this is a solution providing product as it is intended to responds to clientsโ€™ needs for convenience and effectiveness and the bank looks forward to seeing growth among Corporate and Small and medium enterprises in the countryโ€.

MyBucks is a fully-fledged bank with 14 branches across the country, including Blantyre, Lilongwe, Mzuzu, Zomba, Mangochi, Dzaleka and Kasungu. It also has over 100 agents, 30 ATMS, 3 Forex Bureaus and a Microfinance Division. MyBucks offers a full range of banking products and services, as well as Bancassurance and Microfinance products.

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