Banco Internacional de Moçambique continues to be Angola’s biggest bank, KPMG says

18 February 2010

Maputo, Mozambique, 18 Feb – Mozambican bank, Banco Internacional de Moçambique (Millennium BIM), which is majority owned by Portugal’s Millennium BCP, has remained the country’s biggest bank for the third consecutive year, with profit of some 45 million euros in 2008, according to consulting company KPMG.

According to the list of the biggest banks in Mozambique drawn up by KPMG, BIM continues to have the biggest share of the deposits market, with 41.15 percent, and also leads by total assets, with around 210 million euros.

BIM is also ranked first in terms of credit, and in 2008 granted loans totalling around 45 million euros, the survey said.

Second on the list is Banco Comercial de Investimentos (BCI), which is 51 percent-owned by Portugal’s Caixa Geral de Depósitos (CGD), with profit of some 35 million euros, total assets of around 75 million euros and a market share of deposits of 20.76 percent.

The Standard Bank, with profits of over 18 million euros, and Barclays Bank, with 3.2 million euros, both majority-owned by South African investors, are in third and fourth place, respectively.

The survey, which is on its third edition, analysed 15 banks operating in Mozambique, also assessing own funds, the number of workers, number of branches and the banks’ operating results. (macauhub)