Banco de Investimento Global (BiG) recorded a profit of four million euros in 2023, according to the report and accounts consulted by Lusa on Friday, May 3. This figure represents a drop in profits of more than 0.5%, compared to the 275.9 million meticais (4.05 million euros) recorded in 2022.
BiG’s performance in 2023 was influenced by the context of the restrictive monetary policy adopted by the Bank of Mozambique, namely the increase in mandatory reserve coefficients, as well as the maintenance of key rates at high levels. In this context, BiG maintained a cautious management of its balance sheet, which resulted in a gradual reduction of its banking portfolio, while maintaining a comfortable liquidity situation throughout the year, namely in investments with the central bank and other short-term securities.
In commercial terms, the client services activity in savings and investment management showed growth in the number of intermediation operations for clients, as well as in the amount of assets under custody.
BiG Moçambique was set up in 2016 and its capital is mainly held (82.6%) by Banco de Investimento Global, headquartered in Lisbon. The bank also has stakes in Empresa Moçambicana de Seguros (11.1%) and the insurance companies Hollard Moçambique (2.9%) and FPTM (2.2%), among others.
In 2023, BiG Moçambique’s net interest income fell to 348.2 million meticais (5.1 million euros) and banking income grew to 567.8 million meticais (8.3 million euros), while total assets increased to 4.8 billion meticais (71 million euros).
Customer funds (deposits) fell sharply in 2023, to almost 422.3 million meticais (6.2 million euros), compared to 1.9 billion meticais the previous year, and total liabilities grew to 2.5 billion meticais (28.5 million euros).
According to data from the central bank, 15 commercial banks and 12 microbanks operate in Mozambique, as well as credit cooperatives and savings and credit organizations, among others.
