Africa-Press – Mozambique. The profits of Mozambique’s three largest banks, two of which are led by Portuguese banks, increased by almost 6% in 2023, to around 22,770 million meticais (€333 million), according to data compiled by Lusa today.
According to their respective reports and accounts, Banco Comercial e de Investimentos (BCI), the largest in Mozambique, majority owned by Caixa Geral de Depósitos, led the 2023 profits, with 8,181 million meticais (€119.6 million) an increase of 1.28% compared to 2022.
Standard Bank Mozambique, from the South African group, comes in second place among 2023 profits in the banking sector, with growth of 7.8% compared to 2022, to a record of 7,378 million meticais (€107.5 million).
In third place comes Millennium BIM (Banco Internacional de Moçambique), led by the Portuguese group BCP, whose profits grew 8.2% in 2023, to 7,211 million meticais (€105.3 million).
Overall, these three banks had combined profits of around 21,530 million meticais (€314.6 million) in 2022, which translates into growth of 5.7% in 2023, despite all of them pointing out the effects on performance caused by the increase in compulsory reserve requirements demanded by the Bank of Mozambique.
Mozambican banks BCI and Millennium BIM remain among the three domestic institutions of systemic importance in Mozambique, along with Standard Bank, according to the list published this month by the central bank.
The classification table of domestic institutions according to their systemic importance, which must be published annually by April 30 by the Bank of Mozambique, this year again placed the same three banks in the highest category.
The list keeps BCI in first place, with 220 points, followed by Millennium BIM (187 points) and Standard Bank Moçambique, from the South African group Standard Bank, (182 points).
In 2023, Banco Comercial e de Investimento (BCI) had a share capital of 10 billion meticais (€140 million), in a shareholder structure led (51%) by Caixa Participações, part of the Caixa Geral de Depósitos (CGD) group, also counting on the Portuguese bank BPI (35.67%) and directly by CGD (10.51%), among others.
The Banco Internacional de Moçambique (BIM) had a share capital of 4,500 million meticais (€64.1 million euros), the majority held by BCP Africa (Millennium BCP group), with a stake of 66.69%, following the State of Mozambique (17.12%), the Mozambican National Social Security Institute (4.95%) and other shareholders.
Standard Bank Mozambique is a private bank established in 1967, with headquarters in Maputo, but whose activity in the country dates back to 1894, and whose parent company and majority shareholder is Stanbic Africa Holdings Limited, an investment bank established in the United Kingdom, which holds a stake equivalent to 98.15% of the share capital.
In turn, Stanbic Africa Holdings Limited is an entity wholly owned by Standard Bank Group, an investment bank incorporated in South Africa.
The remaining 1.85% of the capital of the Mozambique branch is held by minority shareholders.
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