One policeman was killed and a female companion was wounded in the heist in which K100 million was stolen from the commercial bank on Christmas Eve last year.
Blantyre Police Spokesperson, Elizabeth Divala, told Capital FM, the suspect was arrested following a tip they got from the public.
He was found in possession of property that is suspected to have been bought using the stolen money in Chinsapo residential area in Lilongwe
According to Divala K1.5 million of the stolen money has so far been recovered.
Last year the general public has raised an outcry over the security lapses as just 48 hours before the robbery, yet to be identified thugs shot dead a Ugandan and robbed him off money amounting to MK 4 Million.
This happened at Petroda-Malawi head office at Chichiri in Blantyre.
Police in Blantyre are yet apprehend the robbers and have disclosed they have intensified a man hunt for the thugs.
At the moment, police are urging anyone who has information that may lead to the arrests of the robbers to report to any nearest station or tip the police.
This comes at a time when there has been an outcry for the re-implementation of the Shoot to Kill policy which was is believed to have reduced crime during the Bingu wa Mutharika era.