Mozambique: Millenium Bim bank pays dividend to shareholders

17 April 2009

Maputo, Mozambique, 17 April – Mozambican bank, Banco Internacional de Moçambique (Millennium BIM), plans to share 25 percent of its profits for 2008 with its shareholders, according to last year’s annual report and accounts.

Millenium BIM’s Mozambican sharehodlers are state holding company, Instituto de Gestão de Participações do Estado (17.4 percent), as well as social security institute, Instituto Nacional de Segurança Social (4.9 percent), insurer Empresa de Seguros de Moçambique (4.2 percent), community development foundation, Fundação para o Desenvolvimento da Comunidade (1.1 percent).

Holding company BCP Internacional II, SGPS, owns 66.7 percent of Millenium Bim and the remaining 5.7 percent are in the hands of managers, technicians and workers.

In 2008 the bank posted a net profit of 1.7 billion meticals, which was a rise of 25.5 percent against 2007.

Millenium Bim, which is considered to be Mozambique’s biggest bank by market share, has 101 branches all over the country, via which it serves over half a million customers.

In 2008 the bank was considered by Euromoney to be the best Mozamobcan bank as well as also being voted best Mozambican bank of the year for the fourth consecutive year, by magazine The Banker, of the Financial Times group.

In 2008 Millenium Bim was also voted one of the seven best banks in Africa by IC Publisher of African Banker Magazine.

In the latest survey of the 100 biggest companies in Mozambique, carried out by KPMG, Millennium Bim ranked eighth in a list led by Mozal Aluminium Smelter (Mozal), which was an investment of over US$2 billion. (macauhub)