Profits at Millennium bim, the country’s second largest bank, led by Portugal’s BCP, fell more than 4% in the first half of the year compared to the same period in 2023, to 3.2 billion meticals ($50.5 million).
According to the interim report and accounts, to which Lusa had access on Monday, July 29, this performance contrasts with the net result of almost 3.3 billion meticals in the first half of 2023.
Millennium bim’s total assets grew 4.6% by the end of June to 199.1 billion meticals (US$3.1 billion), but in this case compared to the end of 2023, while total liabilities grew 7.5% to 165.04 billion meticals (US$2.5 billion).
Profits at Millennium bim, led by Portugal’s BCP, fell more than 4% in the first half of the year compared to the same period in 2023, to 3.2 billion metical (US$50.5 million).
On May 9, the Bank of Mozambique approved the proposal by bim shareholders to appoint new corporate officers, with Moisés Jorge becoming chairman of the board of directors.
In a statement, Millennium Banco Internacional de Moçambique announced the decision at the time and recalled Moisés Jorge as a senior member of the institution, having joined the team that launched the bank in 1994, noting that this appointment “reflects a commitment to a culture of merit and appreciation of its staff.”
Millennium bim then announced the resignation of João Cunha Martins from the position of chairman of the executive committee “for personal reasons.”
Millennium bim building
On June 30, 2024, the financial institution had a share capital of 4.5 billion meticals (US$71.3 million), mostly held by BCP África (Millennium BCP group), with 66.69%, followed by the State of Mozambique (17.12%), the National Social Security Institute (4.95%) and Empresa Moçambicana de Seguros (4.15%).
The changes in the management structure, which took effect in May, came seven days after the central bank appointed a resident inspector at bim to monitor the payment system and business model.
BIM’s profits increased by 8.2% in 2023 compared to the previous year, to 7.2 billion meticals (US$113.2 million), according to the report and accounts previously released by Lusa.
