The Portuguese group Caixa Geral de Depósitos (CGD), which owns Banco Comercial e de Investimentos (BCI), announced on Tuesday, May 5, that it had discussed with President Daniel Chapo the possibility of the institution becoming listed on the Mozambique Stock Exchange (BVM).
“We told His Excellency that we are in Mozambique through thick and thin. In other words, there have been a number of challenges—namely natural, economic, and geopolitical—and therefore we realize that it is precisely in these moments that we must also affirm our presence,” stated Paulo Macedo, Chairman of the Executive Board of Caixa Geral de Depósitos.
Speaking after a meeting with the head of state, he noted that they discussed the possibility of BCI providing financing for investments negotiated between Portugal and Mozambique, supporting the implementation of recently reached agreements on bilateral cooperation.
“On the other hand, we also discussed prospects for the bank, specifically the possibility of listing on the Mozambique Stock Exchange. We also emphasized our commitment to improving BCI’s services to the Mozambican population and businesses,” Macedo stressed, as quoted by Executive Digest.
Paulo Macedo stated that he had assured the Mozambican president that CGD intends to remain a shareholder in BCI, an interest it had already expressed in late February regarding the Portuguese bank BPI’s intention to sell its stake in the bank.
The Bank of Mozambique (BdM) once again classified Banco Comercial e de Investimentos, Millennium bim, and Standard Bank Mozambique as the three domestically systemic institutions in the country, maintaining the banking sector’s hierarchy unchanged, according to the updated list released with data through April 30.
According to the ranking table based on systemic importance, BCI remains in the lead with 230 points, followed by Millennium bim with 184 points, and Standard Bank Mozambique with 151 points. These three institutions thus remain in the top tier defined by the Bank of Mozambique (BdM).
BCI has a share capital of approximately $138 million, majority-owned by Caixa Participações, part of the Caixa Geral de Depósitos group, with significant stakes also held by Banco Português de Investimento and CGD itself. In 2024, the bank recorded a 26.18% decline in profits, to approximately $81.2 million, impacted by a significant increase in impairments and provisions.
