The profits of Millennium bim, the country’s second largest bank, led by Portugal’s BCP, fell by more than 4 per cent in the first half of the year, compared to the same period in 2023, to 3.2 billion meticais (50.5 million dollars).
According to the interim report and accounts, to which Lusa had access this Monday, 29 July, this performance contrasts with the net profit of almost 3.3 billion meticais in the first half of 2023.
Millennium bim’s total assets grew 4.6 per cent by the end of June, to 199.1 billion meticais (3.1 billion dollars), but in this case compared to the end of 2023, while total liabilities grew 7.5 per cent, to 165.04 billion meticais (2.5 billion dollars).
Profits at the Millennium bim bank, led by Portugal’s BCP, fell by more than 4 per cent in the first half of the year, compared to the same period in 2023, to 3.2 billion meticais (50.5 million dollars).
Millennium bim
On 9 May, the Bank of Mozambique approved a proposal by bim shareholders to appoint new governing bodies, with Moisés Jorge as 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 been part of the team that launched the bank the following year in 1994, and that this appointment ‘reflects the commitment to a culture of merit and appreciation of its staff’.
Millennium bim then announced the resignation of João Cunha Martins as chairman of the executive committee ‘for personal reasons’.
Millennium bim building
On 30 June 2024, the financial institution had a share capital of 4.5 billion meticais (71.3 million dollars), the majority held by BCP Africa (Millennium BCP group), with 66.69%, followed by the State of Mozambique (17.12%), the National Social Security Institute (4.95%) and the Mozambican Insurance Company (4.15%).
The changes to the management structure, which took effect in May, came seven days after the central bank appointed its own resident inspector at bim to monitor the payment system and the business model.
The bim’s profits rose 8.2 per cent in 2023, compared to the previous year, to 7.2 billion meticais (113.2 million dollars), according to the report and accounts released earlier by Lusa.
