Maputo, Aug. 20, 2025 (Lusa) - Mozambique's Moza Banco, overhauled by the regulator in 2016, recorded losses of almost 149.6 million meticais (€2 million) in the first half of the year, after profits in the same period of 2024, according to the institution's accounts.
According to the report of the interim financial statements released by the bank, one of the five largest in the country, consulted today by Lusa, the performance comes after positive net results of almost 11.3 million meticais (€150,000) in the first six months of 2024.
Before tax, the bank even posted positive results of 80 million meticais (€1 million). Still, the payment of 230.5 million meticais (€3 million) in Corporate Income Tax - Liberatory Rate, for the first half of the year, pushed its performance into the “red” until June.
The bank's assets increased to 64,996 million meticais (€868.2 million) by 30 June, including a drop in loans to customers, to 19,218 million meticais (€256.7 million). Total liabilities fell slightly to 55,419 million meticais (€740.2 million), namely 49,325 million meticais (€659 million) in deposits, which grew by 3% compared to the end of December.
In 2016, Moza was taken over by the management company of the Banco de Moçambique workers' pension fund, when it had Portugal's Novo Banco, successor to Banco Espírito Santo, as one of its main shareholders (49%).
Moza Banco is 66% owned by Kuhanha - Sociedade Gestora do Fundo de Pensões dos Trabalhadores do Banco Central de Moçambique, followed by Arise B.V., with 30.7%, among other shareholders.
The bank had already recorded negative results for the whole of last year, for the first time since 2022, of 103.8 million meticais (€1.4 million) due to "cyclical challenges", the institution announced at the end of April.
The bank's performance, which came after two consecutive years with positive results, was the result of "cyclical challenges", in particular the maintenance of mandatory reserves and a prolonged period of economic and social instability, the institution said in a statement sent to Lusa.
Gross profits stood at 1.2 billion meticais in 2024 (€17 million), and the bank saw the number of customers grow by 8% to 262,864 by the end of 2024.
The bank had been making a profit for two consecutive years, after a positive net profit of 108.8 million meticais (€1.5 million) in 2023, 90.1 million meticais (€1.3 million) in 2022, which then reversed the losses - which had been accumulating since 2016 - of 1,381 million meticais (€20.2 million) in 2021.
At the end of 2023, the bank operated with 63 business units across the country and 943 employees.
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