Profits fell to $48.6 million in 2025, extending a downward trend from $81.5 million in 2024 and a record $110.4 million in 2023, as the bank booked higher provisions linked to exposure to public debt amid deteriorating sovereign risk and additional costs tied to commission refund processes, even as banking income rose 4.23% to $303 million, total assets expanded 3.96% to $3.25 billion, deposits increased 4.47% to $2.59 billion while gross loans contracted 7.6% to $975.5 million, and the non-performing loan ratio climbed 3.21 percentage points to 14.18%.
Mozambique’s largest lender Banco Comercial e de Investimentos (BCI) said its 2025 net profit fell 40.3% as higher provisions linked to public debt exposure weighed on earnings, according to the bank’s annual report.
BCI, majority-owned by Portugal’s Caixa Geral de Depósitos (CGD), posted net profit of $48.6 million in 2025, down from $81.5 million a year earlier.
The lender said it “maintained its leading position in the national banking system, serving around 2.5 million customers” during the year.
It added that net profit “was impacted by non-recurring factors, namely the increase in impairments for exposures to public debt in response to the worsening sovereign risk, as well as extraordinary costs associated with commission refund processes, while nevertheless remaining at a solid level”.
BCI’s earnings had already declined 26.18% in 2024 from a record $110.4 million posted in 2023, highlighting pressure on lenders operating in an economy still vulnerable to fiscal strains and sovereign risk concerns.
Total assets rose 3.96% to $3.25 billion in 2025. Gross loans to customers fell 7.59% to $975.5 million, while customer deposits increased 4.47% to $2.59 billion.
Banking income rose 4.23% to $303 million by the end of December. The ratio of non-performing loans, calculated using the Mozambican central bank’s methodology, increased by 3.21 percentage points to 14.18%.
BCI retained the largest share of Mozambique’s banking market, accounting for 24.32% of deposits, 24.64% of lending and 21.96% of total assets. The bank ended 2025 with 211 branches and 2,702 employees.
“Its presence continues to be the most extensive and far-reaching in the financial system,” BCI management said in the report, adding that the 2025 indicators “reflect a relationship of trust consistently built over time through a close presence and a service oriented towards the real needs of Mozambicans”.
The results come as discussions continue over the future ownership of BCI after Portugal’s Banco BPI announced plans earlier this year to sell its stake in the lender.
CGD Executive Committee Chairman Paulo Macedo said on May 5 that the group’s continued presence in Mozambique depended on agreements with local authorities and on whether it remained welcome in the country.
“To reaffirm our interest and commitment to continue supporting BCI and maintaining our presence here through BCI, which is a Mozambican bank, but in which we continue to wish to remain shareholders. And we told the President of the Republic that this intention will remain as long as the authorities consider it appropriate and as long as we are welcome,” Macedo said after meeting President Daniel Chapo in Maputo.
Interest in CGD remaining in BCI’s shareholder structure had already been expressed at the end of February after BPI indicated its intention to divest.
The head of the Portuguese banking group said he had told the Mozambican president that Caixa remained committed to the country “during good times and less good times”.
“There have been a series of difficulties, including natural, economic and geopolitical ones, and therefore Caixa understands that it is precisely in these moments that it should also reaffirm its presence,” he said.
Macedo also said he discussed the possibility of listing BCI on the Mozambique Stock Exchange.
BCI has share capital of $135 million, with Caixa Participações holding 51%, BPI owning 35.67% and CGD directly holding 10.51%.
Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
Master KG (South Africa)
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