Barclays Bank Mozambique presents extremely solid results in 2015
Barclays Bank Mozambique, SA (BBM) presented its results for the fiscal year 2015, at a Press Conference, held at the Radisson Hotel in Maputo.
The session was chaired by the Managing Director, Dr. Rui Barros, who was very satisfied with the results achieved last year and optimistic about the Bank's future in Mozambique, both in terms of financial results and growth and satisfaction of its portfolio Of Customers.
According to Rui Barros, the results of the fiscal year 2015 demonstrate the success of the Bank's strategy, which had already shown positive signs of growth in 2014. The commitment to be Banco de Referência in Mozambique and the continuous demand of Clients led Barclays to plan More investments by 2016, in particular with regard to improving differentiated service, technological infrastructure and innovation, so that it will become more and more the obvious choice of those looking for a bank of excellence.
The Managing Director also highlighted that 2015 was also a year of investment in simplifying the Bank's more operational structure, reinforcing its more customer-centric positioning, reinforcing the level of communication with its Clients, opening a modern Centro Premier, and started the process of rehabilitating their branches, in addition to launching new banking products.
Rui Barros believes that Barclays now has a sustainable basis to achieve the long-term objectives that this management team proposes, supporting its Clients and Mozambique to grow every day. An example of this is the social responsibility initiatives that the Bank has been developing and which, it promises, will expand further in 2016.
The presentation of the results was made by Dr. George Franco Davis, Financial Director of the Institution, who stated that the positive result in the Net Profit for the Year, set at 308 million Meticais, represents a very significant recovery when compared to the result of Negative of 16.9 million Meticais in the previous year. The results are all the more solid when it is verified that, in relation to the previous year, the Bank increased revenues (by around 50%), reduced credit impairment (by around 22%) and significantly expanded the deposit portfolio And credit.
Not less important is the strength of Barclays' capital position, with higher levels of capitalization and liquidity in the Mozambican market, a factor that also makes it a benchmark partner for large companies operating in the country or with Investment in the near future.
Looking at the remainder of 2016, the two managers of Barclays Mozambique expressed concern about the current economic situation of rising inflation, slowing economic growth and raising interest rates. However, in the medium and long term, they say they are confident of the success of Mozambique and its business.
Barclays Mozambique also clarified the recent revelations related to the sale of part of the shares by Barclays Bank PLC in the Barclays Africa Group (BAGL). According to its Chief Executive Officer, these decisions may change the structure Shareholder of the BAGL, do not change either shareholder structure or the continuity of Barclays Bank Mozambique's strategy, much less have any impact on its employees.
Barclays Bank thus strengthens its position as one of the largest and fastest growing banks in the country.