Death has been announced of First Merchant Bank (FMB) founder Natwarlal Anadkat.

Anadkat died on Saturday in the commercial capital Blantyre after battling a heart problem.

Anadkat came to Malawi in 1953 and is believed to be the most famous businessman of Indian origin in the country. In 1958, he started his own trading business.

After many years of trading, in 1995 Anadkat founded FMB.

From a humble beginning in 1995, FMB now has a countrywide network of 27 branches and agencies.

FMB has, since its establishment, enjoyed rapid growth and is now one of the leading financial services groups in Malawi measured by market capitalisation, market share and profitability. Over the years the group has garnered numerous internationally recognised awards for excellence in its operations.

Remains of the late Anadkat will be cremated today at the Hindu Crematorium in Blantyre at 3 pm.

He is survived by a wife, three children and nine grandchildren.