Absa Bank Mozambique, a subsidiary of the South African Absa Group and one of the country’s five largest banks, recorded a drop of about 50% in profits in the first half of this year, reaching 844.3 million meticais (13.2 million dollars).
In the same period in 2024, the bank had achieved a net result of 1.7 billion meticais (26.8 million dollars), meaning the year-on-year reduction in 2025 represents almost half of its previous earnings.
Absa’s total assets in Mozambique grew in the first half to 95.7 billion meticais (1.5 billion dollars), including 30.9 billion meticais (484.6 million dollars) in loans and advances to other banks — nearly three times the amount recorded in December 2024. Loans to customers, however, fell to 26.8 billion meticais (420.2 million dollars).
Total liabilities increased to 83.6 billion meticais (1.3 billion dollars), of which 76.2 billion meticais (1.1 billion dollars) correspond to customer deposits. Equity also rose, reaching 12.1 billion meticais (189.6 million dollars).
In 2024, the bank had achieved record profits of 1.8 billion meticais (29 million dollars), an increase of 14% compared to the previous year, when it had already reported growth of 59%, reaching 1.6 billion meticais (25.4 million dollars). At the end of 2024, Absa’s market share in customer loans rose by 0.8 percentage points to 10.3%, with a net amount of 28.3 billion meticais (443 million dollars). In deposits, its market share increased by 0.6 percentage points to 9.3%, totaling 69.1 billion meticais (1.08 billion dollars), a 25% expansion in one year.
Absa closed 2024 with 5.3% of total credit in default, compared to 7.9% in 2023. Banking revenue grew 10% to 8.5 billion meticais (134 million dollars). At that time, the bank operated with 48 branches and 709 employees.
The share capital of Absa Bank Mozambique is 98.6% owned by the South African Absa Group, with the remaining 1.3% held by minority shareholders, including employees.
Source: Lusa
