The Bank of Mozambique (BdM) tripled its losses last year, reaching 13.3 billion meticais (EUR 179.2 million), in a context marked by increased financing to the state, according to a Forvis Mazars report on the 2025 financial statements, cited by Lusa.
According to the document, the worsening results mainly reflect the deterioration of the net interest margin. This shifted from a positive result of 3.4 billion meticais (EUR 45.7 million) in 2024 to a negative 1.3 billion meticais (EUR 17 million) in 2025, a variation of 137.4%.
At the same time, operating expenses increased by 29.4%, reaching 17.9 billion meticais (EUR 240 million). The rise was driven mainly by personnel costs and other operating expenses.
Meanwhile, total income fell by 53.2%, to 4.5 billion meticais (EUR 60.7 million). This is less than half of the 9.6 billion meticais (EUR 129.7 million) recorded in 2024.
According to the report, this decline in income reflects lower revenues linked to the central bank’s financial operations. The performance contributed to the worsening financial results recorded in the 2025 fiscal year.
On the liabilities side of the balance sheet, the main item remains the issuance of state monetary instruments, namely Treasury Bills. These rose to 530.9 billion meticais (EUR 7.1 billion), up 75.2% compared to 303.1 billion meticais in 2024.
The report also highlights the central bank’s strong exposure to monetary policy operations and state financing. Loans and advances granted to the government accounted for around 14% of total assets and increased by 35.9%, reaching 137.7 billion meticais (EUR 1.8 billion) over the last year.
Overall, the BdM’s balance sheet grew by 26.5% in 2025, reaching 976.7 billion meticais (EUR 13.1 billion), compared to 771.9 billion meticais (EUR 10.4 billion) the previous year, driven mainly by the increase in financial assets at amortised cost and other monetary policy-related items.
Source: Diário Económico
