Moza Banco obtained in its 2020 economic year a positive net result of 146 million meticais against negative 776 million meticais in 2019. The information was presented by the Board of Directors this Tuesday at the Bank’s ordinary general meeting where the shareholders approved the Management Report and the Financial Statements for the 2020 financial year.
In a statement, the bank guarantees that despite the adverse context, “it has managed to maintain the record of recovery and growth, as a result of the confidence that customers and the market have reaffirmed in relation to its activity and performance.”
“This strategic trajectory, which has been developed over the last three and a half years, following the deep operational restructuring, financial reorganisation and reconfiguration of the capital structure – resulting from the Central Bank’s intervention – is now even better illustrated with the achievement of its Break Even,” it said in a statement.
Moza Banco also points out that the year 2020 was also marked by significant representativeness in terms of market shares – assets 6.1%, deposits 6.1% and loans 10.3%.
Regarding the 2020 financial year, Moza Banco’s CEO, João Figueiredo, states: “we have demonstrated a strong capacity to overcome difficulties, expand revenue generation, while maintaining a solid balance sheet and a comfortable liquidity situation”.
As a consequence of the increased financial involvement with its customers and strict prudential management practices, at the end of last year the Bank had a liquidity ratio of 42.5%, above the regulatory established indicator of 25.5%. The Bank also ended 2020 with a solvency ratio of 14.83%, exceeding the minimum of 12% defined by Banco de Moçambique.
