Millennium bim reinforces its commitment to the Mozambican economy while maintaining strong capital and liquidity levels amid a challenging macroeconomic environment

Commercial activity maintains a strong growth trajectory Customer Funds increased by 10.4% year-on-year to MZN 180.6 billion, driven by a 15.3% increase in demand deposits, supported by the Bank’s close relationship with customers and the extensive reach of its commercial network. This growth was accompanied by a continued expansion of the Bank’s customer base, which now exceeds 2.3 million customers. More than 74% of active customers regularly use Millennium bim’s digital channels, with the Smart IZI App standing out as the Bank’s flagship digital platform, demonstrating the growing adoption of and confidence in its digital banking solutions.

The Bank has continued to invest in innovative solutions designed to simplify customers’ banking experience. Notably, Millennium bim became the first bank in Mozambique to introduce a fully digital account opening solution for individual customers, further enhancing convenience, simplicity and accessibility. Gross Customer Loans increased by a robust 11.8% year-on-year to MZN 53.6 billion, supported by positive growth in lending to both households and businesses.

The Bank maintained its prudent risk management approach, preserving the high quality of its loan portfolio. At the end of the first half of 2026, the ratio of loans overdue by more than 90 days stood at 2.6%, with a loan impairment coverage ratio of 157%. The Bank’s strong commercial performance, both in attracting customer deposits and financing the economy through lending, enabled Millennium bim to further strengthen its market position and consolidate its leading role within Mozambique’s financial sector.

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Strong operating performance in a challenging environment During the first six months of the year, Banking Income increased by 4.6% to MZN 10.0 billion, mainly driven by the continued expansion of customer business.Net Interest Income rose by 5.8%, reflecting higher business volumes and disciplined pricing management, while Net Fees and Commissions increased by 5.4%. During the same period, Operating Costs declined by 2.3%, reflecting the Bank’s continued focus on operational efficiency. Nevertheless, personnel costs increased by 13.4%, driven by improvements in employee remuneration and benefits.

Reported Net Profit totalled MZN 1,048 million, representing a decrease compared with the first half of 2025, primarily due to the recognition of additional impairment charges and management overlays following the downgrade of Mozambique’s sovereign credit rating. Excluding this one-off impact, Net Profit would have increased by 21.6% compared with the same period of the previous year. Net Total Assets increased by 9.2% year-on-year to MZN 226.1 billion, while Shareholders’ Equity reached MZN 36.1 billion.

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