Standard Bank Mozambique’s H1 profits drop 11%

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Standard Bank Mozambique’s H1 profits drop 11%

2:09 CAT | 27 Aug 2025

File photo: O País

Profits at Standard Bank, one of Mozambique’s three largest banks, fell nearly 11% through June, to 3.507 billion meticais (€47 million), according to its first-half financial statements.

This compares with a net income of 3.935 billion meticais (€52.8 million) in the first six months of 2024.

The bank’s total assets grew to 183.344 billion meticais (€2.463 million) through June, including 76.940 billion meticais (€1.034 million) in loans to other banks, which nearly doubled compared to the end of 2024, and 32.545 billion meticais (€437 million) in loans to customers.

Total liabilities increased to 148,858 million meticais (€2 billion), including customer funds (deposits), which grew to 126,932 million meticais (€1,705 million) by the end of June.

Standard Bank’s profits had already fallen 15% in 2024, compared to the record in 2023, to 6,134 million meticais (€82.4 million), according to the annual report previously reported on by Lusa.

“These results demonstrate the bank’s resilience and the success of our strategy in the face of significant headwinds. The decrease in return on equity (ROE) from 21.1% in 2023 to 17.7% in 2024 is in line with expectations,” reads the financial analysis included in the annual report.

Standard Bank’s net income in 2024 was the lowest in three years, after 7,191 million meticais (€96.6 million) in 2023 and 6,842 million meticais (€91.9 million) in 2022.

The document notes that in 2024, the Mozambican economy “continued to experience weak consumer demand, as well as limited investment activity”.

Standard Bank Moçambique is a private bank established in 1967, headquartered in Maputo, whose parent company and majority shareholder is Stanbic Africa Holdings Limited, an investment bank incorporated in the United Kingdom, which holds a 98.15% stake.

Stanbic Africa Holdings Limited is wholly owned by Standard Bank Group, an investment bank incorporated in South Africa. The remaining 1.85% of the Mozambique branch’s capital is held by minority shareholders.

Source: Lusa