Credit from Mozambican banks to the economy grew by 4% up to July this year, to 288.2 billion meticals compared to 276.9 billion meticals in the same period last year.
The information is contained in the Monthly Statistical Report released this Monday (11) by the Bank of Mozambique (BdM).
The institution’s figures also show that, up to the end of July, credit to private companies grew by 2.5 per cent to 134.1 billion meticals, while “net credit to the government fell by 11.5 per cent to 155.1 billion meticals”.
In the same period, the report also indicates that “deposits in Mozambican banks have fallen by 1% since the beginning of the year, to around 578.3 billion meticals”.
Also according to the information produced by the central bank, 15 commercial banks and 12 microbanks operate in Mozambique, as well as credit cooperatives and savings and credit organisations, among others.