{"id":18620,"date":"2022-04-28T15:11:59","date_gmt":"2022-04-28T15:11:59","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results"},"modified":"2022-04-28T15:19:36","modified_gmt":"2022-04-28T15:19:36","slug":"standard-bank-mozambique-reports-2021-results","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results","title":{"rendered":"Standard Bank Mozambique reports 2021 results"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Standard Bank Mozambique ended 2021 with net income 9.8% lower than in 2020, according to the report and accounts released today.<\/p>\n

Despite the decline from 5.4 to 4.9 billion meticais (from \u20ac80 to 73 million), the bank considers the results \u201cremarkable\u201d in the face of an \u201cextraordinarily difficult\u201d environment.<\/p>\n

The institution points out as obstacles the Covid-19 pandemic, the armed attacks that led to the suspension of the gas project in Cabo Delgado and the decision of the Bank of Mozambique to suspend Standard Bank from the foreign exchange market for several days.<\/p>\n

\u201cWhile our net interest income grew by 19.8%, compared to the previous year, other income fell by 11.7%, negatively influenced by the results of financial operations, which were substantially lower,\u201d namely in July, the month of suspension, the report states.<\/p>\n

Regarding the \u201cserious breaches of a prudential and foreign exchange nature\u201d, alleged by the financial regulator against Standard Bank \u2013 leading to the disqualification of the former CEO and another manager \u2013 the bank says in the report and accounts that appropriate measures were taken.<\/p>\n

\u201cThis situation does not define us as a bank\u201d, the document reads.<\/p>\n

\u201cFurthermore, every effort is currently being made to ensure that the bank complies with the regulations, at all levels and at all times\u201d, it adds.<\/p>\n

As for other indicators for the year 2021, the solvency ratio dropped from 24.8% to 22.2%, still above the regulatory value of 14% for systemic banks.<\/p>\n

Standard Bank is one of three systemic banks in Mozambique \u2013 that is, banks of structural importance for the country\u2019s financial system, according to the central bank and the country\u2019s financial regulator \u2013 alongside Millennium bim and BCI, both controlled by Portuguese banks.<\/p>\n

Standard Bank\u2019s loan portfolio grew by 7.3% in 2021 and the overall loss ratio stood at 0.5% (from -0.1% in 2020).<\/p>\n

Credit growth was fuelled by the release of liquidity prompted by the Bank of Mozambique reducing the mandatory reserve ratio \u2013 thus also allowing an 8.9% increase in interest-earning assets.<\/p>\n

Of the other two systemic banks in Mozambique, BCI doubled its net income for 2021 compared to the previous year, while Millennium bim is yet to publish results.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Standard Bank Mozambique ended 2021 with net income 9.8% lower than in 2020, according to the report and accounts released today. Despite the decline from 5.4 to 4.9 billion meticais (from \u20ac80 to 73 million), the bank considers the results \u201cremarkable\u201d in the face of an \u201cextraordinarily difficult\u201d environment. The institution points […]<\/p>\n","protected":false},"author":84,"featured_media":18619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-18620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nStandard Bank Mozambique reports 2021 results - Mozambique<\/title>\n<meta name=\"description\" content=\"Standard Bank Mozambique ended 2021 with net income 9.8% lower than in 2020, according to the report and accounts releas ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Standard Bank Mozambique reports 2021 results\" \/>\n<meta property=\"og:description\" content=\"Standard Bank Mozambique ended 2021 with net income 9.8% lower than in 2020, according to the report and accounts releas ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-28T15:11:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-28T15:19:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/04\/img-626ab06eba4f8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1023\" \/>\n\t<meta property=\"og:image:height\" content=\"575\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Standard Bank Mozambique reports 2021 results\",\"datePublished\":\"2022-04-28T15:11:59+00:00\",\"dateModified\":\"2022-04-28T15:19:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results\"},\"wordCount\":359,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/04\/img-626ab06eba4f8.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-mozambique-reports-2021-results\",\"name\":\"Standard Bank Mozambique reports 2021 results - 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