Mozambique: BCI’s profits up 4.4% in first half to almost €50 million

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Mozambique: BCI’s profits up 4.4% in first half to almost €50 million

1:41 CAT | 19 Aug 2025

File photo: Betar

Profits at Banco Comercial e de Investimentos (BCI), the Mozambique subsidiary of the Portuguese group Caixa Geral de Depósitos, grew 4.4% through June, compared to the same period in 2024, to 3.706 billion meticais (€49.8 million).

According to BCI’s first-half financial statement report, this performance compares with a net income of 3,549 million meticais (€47.7 million) in the first six months of 2024.

The bank’s total assets grew to 249,673 million meticais (€3,361 million) at the end of June, including 68,411 million meticais (€921 million) in customer loans, while liabilities rose to 213,783 million meticais (€2,878 million), including 195,748 million meticais (€2,635 million) in customer funds (deposits).

In the document, BCI highlights that during the first half of the year it received 350 million meticais (€4,712 million) related to “the recovery of various credit operations, through agreements between the parties”.

BCI has a share capital of 10 billion meticais (€138 million), with a shareholder structure led (51%) by Caixa Participações, part of the Caixa Geral de Depósitos (CGD) group, with the Portuguese bank BPI (35.67%) and CGD directly (10.51%), among others. BCI closed 2024 with 2,712 employees.

BCI’s profits fell 26.18% in 2024, according to the annual report previously reported by Lusa, falling from a record 8.181 billion meticais (€110 million) in 2023 to 6.039 billion meticais (€81.2 million) last year, influenced “by the 127.1% increase in impairment and provision costs”.

“This reflects the prudence adopted by the bank in hedging assets exposed to credit and sovereign risk. This approach was largely due to the impacts of the adverse post-election context, including the prospect of a downgrade in the country’s rating,” the 2024 annual report explained.

BCI’s management decided not to distribute dividends related to the 2024 net income, in order to “strengthen the balance sheet’s strength and increase its resilience to possible risk escalations”, given “uncertainties associated with the current national and international context”, and despite the bank “presenting very comfortable capital adequacy and liquidity ratios”.

Nevertheless, management emphasized, BCI’s performance in 2024 “remained solid”, highlighting the 15% growth in deposits compared to the previous year, to 183.483 billion meticais (€2.469 billion ), and the 4.27% growth in equity, to 32.153 billion meticais (€433 million), thus contributing to a 10.87% increase in total assets, which reached 231.641 billion meticais (€3.118 billion).

The loan portfolio, meanwhile, increased 6% in 2024, to 78.207 billion meticais (€1.052 billion), representing a “reinforcement of BCI’s commitment to financing the productive and consumer sectors, and a boost to the country’s economic growth”.

Source: Lusa