Maputo, 18 Ago (AIM) – The profits of BCI, Millennium BIM and Standard Bank, the three major banks operating in Mozambique, grew 58.5 million meticais (916,000 dollars at the current exchange rate), over the first six months of this year,
According to data compiled by the Portuguese news agency Lusa from the financial statements of the banks covering the period 1 January to 30 June, these three banks, which represent around 70% of the country’s banking market, amassed profits of over 10,636 million meticais (166 million dollars) during the first six months of 2023.
This performance represents a growth of 4.2 per cent compared to June 2022. Standard Bank Moçambique (part of the South African group Standard Bank group) led the way among the profits for the first half of the year, with a net profit of over 3,816 million meticais, up 17.3 per cent, followed by the BCI, with 3,453 million meticais, down 6.6 per cent compared to 2022, and Millennium BIM, with almost 3,367 million meticais, up 3.2 per cent.
The data also shows that the volume of deposits held by Mozambique’s three largest banks fell by 4.1% between 31 December and 30 June, to around 266 billion meticais, while total assets grew slightly, by almost 1%, to more than 362 billion meticais. Liabilities increased by 2.5%, to over 304 billion meticais.
The Bank of Mozambique announced in April that these three banks remain systemically important credit institutions, as per the assessment made in 2022.
The result of the assessment states that, in the ratio that measures importance to the sector, labelled D-SIB, BCI tops the list with 253 points, followed by Millennium BIM with 238 and Standard Bank with 131.
BCI has a share capital of 10 billion meticais (140 million euros), in a shareholder structure led (51 per cent) by Caixa Participações, of the Portuguese Caixa Geral de Depósitos group. BIM has share capital of 4.5 billion meticais, the majority of which is held by BCP África (part of the Portuguese Millennium BCP group), with a 66.69 per cent stake, followed by the State of Mozambique (17.12 per cent), the Mozambican National Social Security Institute (4.95 per cent) and other shareholders.
According to data from the Bank of Mozambique, 14 commercial banks and six micro banks operate in Mozambique, as well as a variety of credit cooperatives and savings and credit organisations.
(AIM)
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