Millennium bim closed the first half of 2026 with an increase in business volume, strengthening its market share across several areas of activity. According to the bank, this performance reflects customer confidence, improved operational activity, and a strategy focused on sustainable growth despite a challenging macroeconomic environment.
According to a statement received by DE, the institution attributes this performance to stronger customer relationships and the acceleration of its digital transformation. Customer funds increased by 10.4% year-on-year to MZN 180.6 billion, driven by a 15.3% rise in demand deposits.
Millennium bim now serves more than 2.3 million customers, with over 74% of active clients regularly using its digital channels, particularly the Smart IZI app. The bank also highlighted that it was the first in the Mozambican market to offer a fully digital account-opening process for individual customers.
Customer lending increased by 11.8% year-on-year, reaching MZN 53.6 billion, supported by financing for households and businesses. The institution maintained prudent risk management, closing the semester with a non-performing loan ratio (over 90 days past due) of 2.6% and an impairment coverage ratio of 157%.
According to the bank, the growth in deposits and lending strengthened its position within Mozambique’s financial system. During the same period, banking income rose by 4.6% to MZN 10 billion, while net interest income increased by 5.8% and fee and commission income grew by 5.4%.
Operating costs declined by 2.3%, reflecting efficiency measures, although personnel expenses increased by 13.4% due to higher salaries and employee benefits. Net profit amounted to MZN 1.048 billion, below the level recorded in the first half of 2025, mainly due to impairment charges and additional provisions related to the downgrade of Mozambique’s sovereign credit rating. According to Millennium bim, excluding this extraordinary impact, net profit would have increased by 21.6% compared with the same period last year.
Total net assets rose by 9.2% to MZN 226.1 billion, while shareholders’ equity reached MZN 36.1 billion. The net loans-to-deposits ratio stood at 27.5%.
The bank’s capital adequacy ratio reached 40.8%, more than three times the regulatory minimum of 12%, reinforcing its financial capacity to support the economy. Millennium bim was also recently recognised by Euromoney as Mozambique’s “Best Bank” and “Best Digital Bank.”
Commenting on the results, Millennium bim Chief Executive Officer Rui Pedro said:
“The results for the first half of 2026 confirm the effectiveness of the strategy we have been implementing. This strategy is built on a continuous focus on customer proximity, innovation, and digital transformation, always supported by prudent risk management and a solid financial position. This combination enables us to continue meeting the needs of Mozambican families and businesses, creating sustainable value while preparing Millennium bim for the challenges and opportunities of the future.”
Source: Diário Económico
