Moza Banco consolidates main indicators and maintains growth trend in 2022
In 2022 Moza Banco consolidated its main indicators and maintained growth trends in line with previous years, a fact supported by the confidence shown by its customers and the market.
The Management Report and Financial Statements, discussed on 28 April 2023, during the Session of the Ordinary General Meeting, indicates that the bank has bucked the trend of the global economy that in 2022 was considerably impacted by accelerating price levels, slowing growth rates in the world economy, as well as the negative repercussions of military conflicts.
The bank showed a significant improvement in its profitability and efficiency ratios in 2022 compared to the same period in 2021. Return on equity (ROE) and return on assets (ROA) reached positive 1.26% and 0.05%, respectively, compared to negative 9.83% and 0.4% in 2021.
As regards prudential ratios, the solvency ratio remained stable, standing at 22.58% at the end of 2022, compared to 23.21% in 2021. The liquidity ratio reached 47.41% in 2022, an improvement of 2.91pp compared to 2021, remaining above the regulatory requirements set by the regulator.
In 2022, the bank recorded balanced growth in deposit-taking, with an increase of 8% (MZN 2.6 billion) compared to the previous financial year, which highlights continued investment and confidence from customers in Moza and the Bank’s Relational approach. Total assets also grew in this direction, showing an increase of 6% (MZN 2.6 billion).
In 2022 alone, Moza Banco registered a notable growth, of approximately 27%, in the number of Customers, placing the total at 215,864.
The institution’s operating efficiency remained positive, reflected in a cost-to-income ratio that stood at 74.30%, which reflects the positive effect of the ongoing strategy of optimisation and rationalisation of operating costs and investments.
The efficient performance of the institution led to the generation of positive results amounting to MZN 326 million, contrary to the negative MZN 1.3 billion figure which had been recorded in the previous year. As a consequence of the aforementioned measures, as well as the significant increase in the volume of transactions with customers, the Bank recorded a positive net result after tax of MZN 90 million.
The Chairman of the Board of Directors (PCA) of Moza Banco, Dr João Figueiredo, highlighted that “in a challenging macroeconomic context and with rising interest rates, the Bank contributed towards the growth of the economy through the granting of financing, ensuring due prudence in line with the Bank’s strategy, given the context of increasing non-performing loans in the system”. “We will continue to focus on strengthening policies and instruments to guarantee effective and efficient management, ensuring best practices in risk management and compliance.”
2022 was also marked by the approval and start of implementation of the 2022-2026 Strategic Plan, a guiding instrument which sets out the Bank’s guidelines for action in the period in question. The Plan also includes guidelines to support activities, focusing on customer relations and the Bank’s sustainability.
In line with the defined strategy and as a way of reaffirming the confidence in and commitment to the Moza project, in December 2022, the Bank’s shareholders approved a share capital increase operation of MZN 1.1245 billion.
It is important to mention that a line of funding from the European Investment Bank (EIB), of USD 10 million, was recently approved, aimed at supporting the Bank’s credit activity. This initiative is a sign of the confidence this prestigious financial institution places in Moza Banco.