Africa-Press – Mozambique. The profits of South African Absa Bank Mozambique, one of the largest in the country, more than doubled in the first half of 2023 to 779.6 million meticais (€11.2 million), according to the financial statements consulted by Lusa on Tuesday.
The same document recalls that the bank presented a net result in the same period (January 1st to June 30th) of 2022 of 370.4 million meticais (€5.3 million), so the performance in the first half of this year represents a year-on-year growth of more than 110%.
The share capital of Absa Bank Moçambique is 98.68% owned by the South African group Absa, with the remaining 1.32% controlled by minority shareholders such as employees and others.
On 30 June, 2023, Absa Bank Mozambique had total assets of more than 81,810 million meticais (€1,174 million), against the 66,077 million meticais (€948.4 million recorded on 31 December, 2022).
Total liabilities closed the first half of this year at 71,896 million meticais (€1,032 million) – namely 56,700 million meticais (€813.8 million) in customer deposits – which compares with 57,065 million meticais (€819 million) at the end of 2022.
READ: South African lender Absa posts marginal rise in interim profit
South African Absa is one of the largest financial services groups in Africa, with around 38,000 employees, and is present in 12 African countries, being listed on the Johannesburg Stock Exchange.
The group has 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.
In Mozambique, Absa Bank employed a total of 663 workers at the end of 2022, and closed the year with a 10% share of the total banking customers in the country and 8.4% of deposits.
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