Five commercial banks considered systemic for Mozambique – BdM

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Five commercial banks considered systemic for Mozambique – BdM

9:00 CAT | 11 Apr 2024

FILE - For illustration purposes only. [File photo: Teixeira Duarte]

Banco Comercial e de Investimentos (BCI), Banco Internacional de Moçambique (Millennium Bim), Standard Bank, Absa and Moza Banco were considered the five banks of systemic importance in the country, the Bank of Mozambique (BdM) announced on Tuesday (09).

In the ratio that measures importance to the sector, labeled D-SIB, BCI tops the list with 220 points, followed by Millennium Bim with 187 and Standard Bank with 182.

“Absa Moçambique and Moza Banco occupy the fourth and fifth positions in terms of systemic importance, with 99 and 86 points, respectively,” reads the document to which the MZNews had access to.

The list includes another 28 domestic credit institutions that the BdM considers to be of no systemic importance.

The law requires the central bank to publish the list of credit institutions classified as ‘D-SIB’ or ‘almost D-SIB’ by April 30 of each year, based on the data reported on December 31 of the previous year.

Source: MZNews