Absa Bank Mozambique earned more money last year than ever before. Their profits jumped 14.1% to 1,852 million meticais, which equals about 26.2 million euros. This beats the old record they set in 2023, when they made 1,620 million meticais, or 22.9 million euros. The bank grew faster than others in collecting money from customers. People trusted them with 25.2% more cash than before.
Money saved in accounts reached 69,111 million meticais, almost 980 million euros. Loans to customers also went up by 9.6%, hitting 28,319 million meticais, about 401 million euros. The bank leader, Pedro Carvalho, feels proud of these numbers. He says they broke all records in the bank's history. They attracted more savings, handed out more loans, and kept all money signs looking healthy.
Absa is one of three banks in Mozambique that serve between 200,000 and one million people. The other two large banks are Standard Bank and Moza Banco. According to central bank records, Mozambique has 15 banks running across the country. The cash Absa earned from banking jumped 10.1% to 8,579 million meticais. Everything they control grew by 14.3% to 87,945 million meticais.
They fixed many bad loan problems, cutting them from 7.9% to just 5.3% of all loans. Their credit loss rate also fell from 3.0% to 2.7%. Carvalho thanks his workers for these good results. He praises how they stayed close to customers and made banking easier through simple steps and better computer services. These things help them lead with a clear purpose.
Absa is one of the biggest money groups in Africa. It employs around 38,000 people across 12 African countries. You can buy its shares on the main market in Johannesburg, South Africa. South Africans control most of Absa Bank Mozambique. The bigger Absa group works in many places, including Botswana, Ghana, Kenya, and seven other African nations. It has offices in Namibia, Nigeria, London, and New York.
Many money businesses run in Mozambique besides Absa. The central bank counts 15 regular banks, 14 small banks, four credit groups, 13 savings groups, and 2,304 tiny loan givers working across the country. Absa keeps growing because people trust it with more savings each year. They give back by lending money to help businesses grow. Their success comes from treating customers well and keeping promises.
Money saved in accounts reached 69,111 million meticais, almost 980 million euros. Loans to customers also went up by 9.6%, hitting 28,319 million meticais, about 401 million euros. The bank leader, Pedro Carvalho, feels proud of these numbers. He says they broke all records in the bank's history. They attracted more savings, handed out more loans, and kept all money signs looking healthy.
Absa is one of three banks in Mozambique that serve between 200,000 and one million people. The other two large banks are Standard Bank and Moza Banco. According to central bank records, Mozambique has 15 banks running across the country. The cash Absa earned from banking jumped 10.1% to 8,579 million meticais. Everything they control grew by 14.3% to 87,945 million meticais.
They fixed many bad loan problems, cutting them from 7.9% to just 5.3% of all loans. Their credit loss rate also fell from 3.0% to 2.7%. Carvalho thanks his workers for these good results. He praises how they stayed close to customers and made banking easier through simple steps and better computer services. These things help them lead with a clear purpose.
Absa is one of the biggest money groups in Africa. It employs around 38,000 people across 12 African countries. You can buy its shares on the main market in Johannesburg, South Africa. South Africans control most of Absa Bank Mozambique. The bigger Absa group works in many places, including Botswana, Ghana, Kenya, and seven other African nations. It has offices in Namibia, Nigeria, London, and New York.
Many money businesses run in Mozambique besides Absa. The central bank counts 15 regular banks, 14 small banks, four credit groups, 13 savings groups, and 2,304 tiny loan givers working across the country. Absa keeps growing because people trust it with more savings each year. They give back by lending money to help businesses grow. Their success comes from treating customers well and keeping promises.
