Mozambique’s Millenium bim bank has US$100 million for business projects

25 September 2013

Mozambique’s Millenium bim bank, which is a subsidiary of Portuguese private banking group BCP, plans to provide US$100 million to support business projects of all sizes, the group said in a statement issued Tuesday.

With this credit line, which for investments of over US$5 million may be provided alongside personalised support from the investment banking department, BCP plans to “boost the commitment to support investment in the geographical areas in which it is present, notably those with high potential growth.”

According to the presentation to investors made by BCP on 11 September, which was updated with the restructuring plan approved by the European Commission, one of the aims for the Mozambican operation by 2015 was “to boost competitive positioning in business and investment banking to consolidate leadership in the market.”

According to BCP, Millennium bim is the Mozambican market leader by deposits, with a share of 31.6 percent, and by credit, with 33.2 percent. (macauhub)