Mozambique’s Moza Banco reverses losses to post 273.9 million meticais profit by June

According to the interim report for the first six months of 2026, seen by Lusa today, the net result compares with losses of 149.6 million meticais (€2.1 million) recorded in June 2025. The financial margin increased by 13%, to 1.83 billion meticais (€25.2 million), while net commissions rose by 31%, to 294.6 million meticais (€4 million). Total assets increased by 13.6% compared with the end of 2025, reaching 72.8 billion meticais (€999 million), while customer deposits grew by 6.1%, to 56 billion meticais (€769 million).

Total liabilities increased by 14.5%, to 66.7 billion meticais (€915 million), reflecting mainly the growth in deposits and the use of financing from the central bank and other credit institutions. The bank’s net loan portfolio declined by 7.1%, to 13.7 billion meticais (€188 million), maintaining the downward trend observed throughout 2025. The bank’s equity increased by 5.4%, to 6.1 billion meticais (€84 million), supported by the return to positive results.

In 2025, Moza Banco, one of the five largest banks in the country, recorded losses of 3.919 billion meticais (€52.3 million), a result that management attributed at the time to a strategy of increasing impairment provisions and cleaning up credit exposures. At the time, the bank reported a 16.5% growth in its customer base, to more than 305,000 customers, deposits of 53.8 billion meticais (€718.6 million) and a 29.4% reduction in its net loan portfolio. The return to profit comes at a time when the institution has once again become the focus of public debate in Mozambique, 10 years after the intervention by Banco de Moçambique.

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Central bank governor Rogério Zandamela said at the end of July, effectively taking stock of his 10 years in office, that he had only a matter of seconds to decide whether to save or liquidate the bank in September 2016. “I had less than one, two minutes to make that decision. Save or liquidate. That was how it was, a matter of seconds,” the governor said at the time, adding that the bank “was already dead” and had negative equity.

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