Mozambique’s BCI bank posts profit of 15 million euros in 2009

16 April 2010

Maputo, Mozambique, 16 April – Mozambican bank, Banco Comercial de Investimentos (BCI), which is 51 percent-owned by Portugal’s Caixa Geral de Depósitos (CGD), said Thursday it had posted a profit of some 15 million euros in 2009, a year on year rise of 39 percent.

In its Report and Accounts for 2009, BCI said it had total assets of around 733 million euros, or 45 percent more than in 2008 and a turnover of just over 1 billion euros, a rise of 52 percent.

In the same year BCI provided loans of over 502 million euros, a rise of 79 percent against 2008, reaching a market share of 34 percent.

“Despite the macroeconomic climate and its impact on the financial markets it can be said that BCI reached its targets: It expanded its distribution network, increased its number of customers by 66 percent and boosted its market share,” said the 2009 Annual Report.

In 2009 BCI had operating costs of 250 million euros, posting a rise of 30 percent against 2008.

As well as CGD, which owns 51 percent of the bank, Portuguese private bank BPI owns 30 percent, Mozambican group Insitec owns 18 percent, and the remaining capital is owned by individual shareholders. (macauhub)