The Bank of Mozambique (BdM) has once again classified Banco Comercial e de Investimentos (BCI), Millennium bim, and Standard Bank Mozambique as the three domestic institutions of systemic importance in the country, keeping the banking sector hierarchy unchanged, according to the updated list released as of April 30.
According to the classification table based on systemic importance, BCI remains in the lead with 230 points, followed by Millennium bim with 184 points, and Standard Bank Mozambique with 151 points. These three institutions thus remain in the highest tier defined by the Bank of Mozambique (BdM).
According to Lusa, the BdM also identifies two institutions in the “quasi-systemic” category, with scores between 65 and 130 points: Absa, with 117 points, and Moza Banco, with 71 points, the latter having remained in this group since 2023.
Based on their size and importance in the financial system, banks classified as systemic or quasi-systemic are subject to increased capital requirements, as provided for in current legislation, with the aim of strengthening the sector’s resilience to potential shocks.
Given their size and importance within the financial system, banks classified as systemic or quasi-systemic are subject to enhanced capital requirements, as provided for in current legislation, with the aim of strengthening the sector’s resilience to potential shocks.
Financially, BCI has a share capital of approximately $138 million, majority-owned by Caixa Participações, part of the Caixa Geral de Depósitos group, with significant stakes also held by Banco Português de Investimento and CGD itself. In 2024, the bank recorded a 26.18% decline in profits, to approximately $81.2 million, impacted by a significant increase in impairments and provisions.
Meanwhile, Millennium bim, which began operations in 1995 as part of a partnership between Millennium BCP and the Mozambican government, has a share capital of approximately $60.5 million. The institution reported a 54% drop in profits in 2024, to $44.5 million, also reflecting the impact of increased impairments and provisions.
Standard Bank Mozambique, whose presence in the country dates back to 1894, recorded a 15% decrease in profits in 2024, totaling approximately $82.4 million. The bank is majority-owned by Stanbic Africa Holdings Limited, part of the South African Standard Bank Group.
