The bank’s performance, coming off two consecutive years of positive results, is attributed to “conjunctural challenges” such as the maintenance of mandatory reserves and a prolonged period of economic and social instability, as stated by the institution in a statement released today.
Gross results were recorded at 1.2 billion meticais in 2024 (17 million euros), and the bank witnessed an 8% growth in its client base, reaching 262,864 customers.
“This is a performance that reflects the bank’s resilience in a year marked by conjunctural challenges,” the statement noted.
Among the positive aspects of a year described as “challenging,” the bank also highlighted a 16% growth in deposits, amounting to 6.8 billion meticais (94 million euros), alongside a solvency ratio of 15.81% (with a minimum required level of 12).
Significant advancements were also made in digital transformation, with a 33.3% increase in digital transaction volume and the addition of 182,000 new users, reflecting a 7.6% increase, according to the document.
The financial solidity of Moza Banco was further “strengthened” in 2024 through the granting of 3.8 billion meticais (52 million euros) in credit to families and businesses.
In the first three months of 2025, according to the bank, improvements were recorded.
“In the first three months of the year, the bank recorded a positive net result of 4 million meticais (55 thousand euros), marking an improvement of 51.6 million meticais (712 thousand euros) compared to the same period in 2024,” the bank added.
This week, during a general meeting, the bank decided to appoint Manuel Soares, currently the executive committee president, as the interim chairman of the board of directors, the institution announced in the statement.
“Manuel Soares has had a remarkable career in the national banking sector. He has been serving as the Executive Committee President of Moza Banco since July 2021, following a change in the institution’s shareholder structure,” the statement elaborated.
In 2016, Moza came under the leadership of the fund management company for the pension funds of the Bank of Mozambique’s workers, with Portugal’s Novo Banco, the successor of Banco Espírito Santo, as one of the main shareholders (49%).
Moza Banco is 66% owned by Kuhanha – the fund management company for the Bank of Mozambique’s employees’ pension fund, followed by Arise B.V. at 30.7%, among other shareholders.
The bank had been reporting consecutive profits for two years, with a net positive result of 108.8 million meticais (1.5 million euros) in 2023 and 90.1 million meticais (1.3 million euros) in 2022, which reversed losses that had accumulated since 2016, amounting to 1,381 million meticais (20.2 million euros) in the 2021 fiscal year.
At the end of 2023, the bank operated 63 business units nationwide and employed 943 workers.
