Mozambique: Beluluane Industrial Park contributes US$900 million to GDP
Infodiario (File photo)
The financial results of Standard Bank of Mozambique rose 18 percent from 2015 to 2016, according to the report published yesterday by the institution on the Internet and seen by Lusa.
“The results for the year rose by 18 percent from 2.3 billion meticais in 2015 to 2.7 billion meticais in 2016,” the document reads. “Despite little economic activity during the year, our income from commissions grew slightly,” it says.
“Financial margins posted strong growth, boosted by the quality of the asset portfolio as well as by the increase in interest rates,” the report adds.
The Standard Bank of Mozambique report assures readers that “all performance indicators remain at acceptable levels”.
At the end of 2016, solvency ratios were at 16.95 percent, “significantly above the 8 percent regulatory minimum required by the Bank of Mozambique” and above even the 12 percent that will be required by the central bank within three years.
Standard Bank of Mozambique is among the main commercial banking institutions with branches throughout the country. According to the report, its number of ATMs increased from 133 to 161 and the number of Standard Bank employees rose from 1,153 to 1,187.
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