FNB Mozambique reported losses of $13.3 million in 2025, marking a further deterioration in its financial results compared to the previous fiscal year, according to the financial institution’s annual report and financial statements reviewed by Lusa.
According to the document, performance was heavily impacted by increased impairment charges related to Mozambican government securities that defaulted on their scheduled payment dates.
“The bank recognized expected credit impairment losses totaling $7.6 million on government securities that defaulted on their scheduled payment dates,” the report states.
Despite the deterioration in results, the board of directors maintains that the situation did not affect the institution’s prudential limits and expresses confidence in the continuity of business expansion plans. FNB Mozambique had already closed 2024 with losses of $12.5 million, after posting profits of $771,000 in 2023.
According to the bank, the 2025 results reflect “high levels of impairments on sovereign exposures,” in a challenging macroeconomic context and amid greater prudence in risk assessment. In 2025, the majority shareholder FirstRand EMA Holdings, which holds more than 99% of the bank’s capital, made a capital injection of $16.5 million.
With this transaction, the bank’s authorized capital increased to the equivalent of $88.7 million. According to the institution, the capital increase is intended to strengthen the bank’s financial position, increase its lending capacity, and ensure greater resilience to support long-term growth.
Following the transaction, the capital adequacy ratio remained at 21.38%, above the regulatory minimum of 12% required by the Bank of Mozambique.
FNB Mozambique’s total assets grew to the equivalent of $490.1 million, including $208.6 million in financial investments and $110.9 million in loans to customers.
Total liabilities amounted to the equivalent of $444.3 million, of which $390.2 million corresponded to customer deposits. Data from the Bank of Mozambique indicate that 15 commercial banks and 12 microbanks currently operate in the country, in addition to credit unions and savings and credit organizations.
