The defunct Nosso Banco, which was shut down by the Bank of Mozambique in 2016, has announced the sale of movable assets valued at 6.7 million meticais (106,000 USD)—nearly ten years after its liquidation. This initiative is part of the asset disposal process for the bank’s remaining property.
“Nosso Banco SA – Company in Liquidation intends to sell, through direct sale, the movable assets of Nosso Banco to interested third parties,” states an official announcement.
Among the items for sale are 60 assets listed under ‘Ortomédica’s asset list’, all described as new and in various quantities. The sale will be conducted directly with interested buyers, under terms set by the liquidation committee.
The Bank of Mozambique ordered the liquidation of Nosso Banco on November 11, 2016, due to a sharp deterioration of the bank’s prudential indicators. The decision was accompanied by sanctions against board members and a gradual closure process.
The bank was majority-owned by the National Social Security Institute (INSS) with 77.2%, and by Electricidade de Moçambique (EDM) with 15.1%. The main factors leading to the liquidation included negative equity, capital below regulatory minimums, poor liquidity, non-compliance with mandatory reserves, and accumulated losses, as well as the inability to recapitalize.
Source: Lusa
