Mozambique’s BCI bank opens 24 branches and Corporate Centres in 2010

31 March 2011

Maputo, Mozambique, 31 March – Mozambican bank Banco Comercial e de Investimentos (BCI) increased the size of its network by 33 percent in 2010 by opening 24 branches and BCI Corporate Centres as well as increasing its customer portfolio by 84 percent, according to a statement issued in Maputo by the bank.

BCI is the second largest financial institution in Mozambique, with a market share of over 30 percent which, according to the statement, saw a significant boost.

Portuguese state financial group Caixa Geral de Depósitos (CGD) owns 51 percent of the bank, Banco Português de Investimentos (BPI) 30 percent, 18 percent is owned by a Mozambican investment group and the remainder of BCI is in the hands of other local investors.

BCI made the list of top 100 banks in Africa for the first time in 2010 and was the first of the large Mozambican banks to use the “Made in Mozambique/Proudly Mozambican” seal.

After BCI raised its capital in 2010 from 321.43 million meticals to 1.9 billion meticals, the General Shareholders’ Meeting decided to increase BCI’s equity by retaining 75 percent of net profit for 2010 (which totalled 916.85 million meticals, or 28 percent more than in the previous year).

BCI’s net assets totalled 47.09 billion meticals at the end of 2010, which corresponded to a year on year rise of 36 percent, and the credit portfolio totalled 30.13 billion meticals, or 27 percent more than in 2009. (macauhub)