The profits of Mozambican banks fell by 21.9% in 2024, to the equivalent of around 900,000 euros a day, according to data from the Bank of Mozambique in its June financial stability report.
The central bank explains that the reduction in net banking income, which totaled 24 billion meticais (319.4 million euros), is the result, on the one hand, of “the increase in operating costs, especially staff costs, by 7.88 percent”, but also “the reduction in other operating income, reflecting the 44.60 percent increase in impairment losses”.
(Source Sapo)
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