The profits of the five largest Mozambican banks – Banco Comercial e de Investimentos (BCI), Millennium bim, Standard Bank Moçambique, Absa Bank Moçambique and Moza Banco – increased by 9.5 per cent in the first half of the year, standing at 12.4 billion meticals (192.3 million dollars) compared to the 11.3 billion meticals (175.3 million dollars) recorded in the same period in 2023.
In specific terms, the interim financial reports, released by Lusa, indicate that Standard Bank, one of the three banks considered systemic by the central bank, led the group, seeing its profits increase by 3 per cent to 3.9 billion meticals (60 million dollars).
The documents state that BCI, majority owned by Caixa Geral de Depósitos, had an increase of 2.8 per cent, and its figures stood at 3.5 billion meticals (54.2 million dollars).
The profit of Millennium bim, the country’s second largest, led by Portugal’s BCP and one of Mozambique’s three systemic banks, fell by more than 4 per cent in the first half of the year, to 3.2 billion meticals (49.6 million dollars).
With regard to the remaining two banks, considered quasi-systemic, the documents clarify that Absa Bank Moçambique ‘s profit more than doubled in the first half of the year, to 1.7 billion meticals (26.3 million dollars), while Moza Banco recorded a profit of more than 11.2 million meticals, recovering from losses of 55.6 million meticals in the same period of 2023.
According to data from the central bank, 15 commercial banks and 12 microbanks operate in Mozambique, as well as credit cooperatives and savings and credit organisations, among others.
