On paper, Silver were the favorites having played 20 TNM Super League games without tasting defeat.
They are second on the TNM Super League log table with 42 points, five points behind league leaders Mighty Be Forward Wanderers.
Silver also failed to utilize home ground advantage as they allowed the visitors to score two quick goals in the first half.
Mafco grabbed the opener in the 15th minute through Emmanuel Chipeta and Ranken Mwale doubled the lead five minutes later before Zikhole Ngulube netting third goal for Mafco.
The Bankers pushed and pressed for goals and managed to pull two back through Victor Limbani and Ronald Mangani, it was too close but equally too little for the home side to upset the score board.
Elsewhere, Nyasa Big Bullets equally matched through after slaughtering Dwangwa United 4-1 at Chitowe Stadium.
The visitors scored through Emmanuel Zoya, Muhammad Sulumba, Chiukepo Msowoya and Mike Mkwate while Greyson Chinkhandwe scored Dwangwa's consolation goal.
Blue Eagles whacked Chitipa United 4-1 at Nankhaka Stadium, thanks to goals from Maxwell Salambula (brace), Stuart Mbunge and Vitumbiko Kumwenda with Abel Mwakilama netting Chitipa's lone goal.
Other teams that bowed of the tournament are Civil Sporting, Wanderers, Wizards FC, Blantyre United, Red Lions.
Civil Sporting lost to Azam Tigers; Wizard FC were shown exit door by Mzuni FC while Blantyre United bowed out following their 2-0 home defeat to Kamuzu Barracks.
Wanderers lost 2-0 to Moyale FC with Red Lions losing 3-1 to Masters Security.
This year's winner will pocket K12 million, up from last year's K10 million.
Sponsors, Fisd increased the sponsorship package from K45 million last year to K50.2 million this year.