Mozambique’s largest bank posts 9.7% YoY decline in first-half profit

The result compares with consolidated net profit of 3.704 billion meticais (€49.9 million) in the first six months of 2025, according to the interim financial statements seen by Lusa. On an individual basis, the bank posted first-half profit of 3.328 billion meticais (€44.7 million), down from 3.707 billion meticais (€49.9 million) in the corresponding period last year. The consolidated performance also reflects the corporate reorganisation completed in 2025.

According to the report, “the merger process between subsidiary BPI Moçambique and BCI was completed in 2025, with BPI Moçambique consequently dissolved through the merger”, after which the bank and its subsidiaries are “hereinafter referred to as the Group”. Despite the decline in profit, the bank continued to expand its operations, with total assets rising 2.8% since December to 247.258 billion meticais (€3.328 billion), compared with 240.527 billion meticais (€3.238 billion) at the end of 2025. Customer deposits increased by 0.8% during the first half to 193.179 billion meticais (€2.607 billion), reinforcing the institution’s position as the leader of Mozambique’s banking system in that segment.

Meanwhile, customer lending fell 5.5% since December to 61.155 billion meticais (€824 million) in June. BCI’s profit had already fallen 40.3% in the whole of 2025, to 3.604 billion meticais (€48.6 million), largely due to the bank’s exposure to public debt. In its annual report and accounts, published in May, the board said it had “maintained its leadership position in the national banking system, serving around 2.5 million customers” during 2025.

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It added that net profit “was affected by non-recurring factors, namely the increase in impairment provisions for sovereign debt exposures, in response to heightened sovereign risk, and extraordinary costs associated with commission refund processes, while nevertheless remaining at a solid level”. BCI’s profit had already declined by 26.18% in 2024 to 6.039 billion meticais (€81.5 million), compared with the record 8.181 billion meticais (€110.4 million) posted in 2023. In terms of market share, BCI ended 2025 as Mozambique’s leading bank in deposits, with 24.32% of the market, lending (24.64%) and total assets (21.96%).

At the end of the year, it operated 211 branches and employed 2,702 staff. BCI has share capital of 10 billion meticais (€135 million). Its shareholder structure is led by Caixa Participações, part of the CGD Group, with a 51% stake, followed by Portugal’s BPI with 35.67% and CGD directly with 10.51%, among other shareholders. Speaking in Maputo on 5 May, CGD Chief Executive Paulo Macedo said the group’s continued presence in Mozambique depended on the understanding reached with the national authorities and on the Portuguese banking group continuing to be “welcome”.

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