Africa-Press – Mozambique. Profits at Absa Bank Mozambique, one of the country’s five largest banks, fell by half through June compared to the same period in 2024, to 844.3 million meticais (€11.3 million or US$13.2 million), according to financial statements reviewed by Lusa this Wednesday.
According to the report, Absa had posted positive net profits of 1.712 billion meticais (€23 million) from January to June of last year, resulting in a year-on-year decline of 50.7% in 2025.
Absa Mozambique’s total assets increased in the first half of the year to 95.757 billion meticais (€1.286 billion), including 30.955 billion meticais (€415.7 million) in loans and advances to other banks—almost three times higher than in December 2024—while customer loans fell to 26.854 billion meticais (€360.7 million).
Total liabilities increased to 83.633 billion meticais (€1.123 billion) in the same period, including customer deposits, which increased to 76.205 billion meticais (€1.023 billion), while equity also increased to 12.123 billion meticais (€162.8 million).
Absa Bank Mozambique’s profits grew 14.1% in 2024, reaching a new record of 1.852 billion meticais (€24.8 million), according to the annual report previously reported by Lusa.
According to the report, this performance compared with net profits of over 1.622 billion meticais (€21.7 million) in 2023, which had already grown 58.7% compared to the previous year.
At the end of 2024, Absa’s market share in customer loans in Mozambique rose 0.8% to 10.3% of the total, with net income increasing 9.6% to 28.318 billion meticais (€380.3 million).
In deposits, according to the 2024 annual report and accounts, market share grew 0.6% to 9.3%, totalling 69,110 million meticais (€970.5 million), a 25.2% increase in total over the year.
Absa closed 2024 with 5.3% of its total loans in default (7.9% in 2023), saw its banking product increase 10.1% to 8,570 million meticais (€115.1 million), and had 48 service locations and 709 employees.
Absa Bank Mozambique’s share capital is 98.68% owned by the South African group Absa, with the remaining 1.32% controlled by minority shareholders, including employees and others.
Absa is one of Africa’s largest financial services groups, with approximately 38,000 employees, is present in 12 African countries and is listed on the Johannesburg Stock Exchange.
The group includes operations in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda, and Zambia, as well as offices in Namibia and Nigeria and an international presence in London and New York.
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