The profitability level of the National Investment Bank (BNI) has tended to fall since 2017, with the lowest profit being recorded in 2019. In 2016, the bank recorded a net profit of 354.9 million Meticais, having dropped in the following year to 187.8 million Meticais. In 2019, it recorded the lowest profit yet, which was 64.4 million Meticais. Asked about the reasons, aside from the presentation of the 2020 Report and Accounts a few days ago, the President of the Executive Council (PCE), Tomás Matola, explained that the reduction in profitability was due to the financial and economic crisis that affected the world and the country, as of 2016. It denied associating low profitability with the so-called hidden debts, which led donors to freeze their funding to the State Budget, a measure that aggravated the country’s financial and economic crisis. However, Matola recalled that, in a crisis, there was a “significant increase in interest rates in the national financial system, which went beyond doubling. We also had a deterioration in the main macroeconomic indicators, including inflation, which generated an environment of total uncertainty regarding As a result, companies tended to take out less credit from the banks. In addition, companies began to face difficulties in repaying their debt and, at that time, BNI began to record a high level of non-performing credit, hence we had to increase provisions and impairments, which has a direct impact on results”. However, in 2020, BNI posted a net profit of 137.51 million Meticais in 2020, corresponding to a 113 percent increase over the amount of 64.4 million Meticais recorded in 2019. Based on this result, BNI’s PCE says: “our economic fundamentals tell us that, now that we are back on, our trend of positive results will return”. According to Matola, the positive performance in 2020 was accompanied by the consolidation of the bank’s financial strength and health, as evidenced by the return on assets, the strength of its own funds, the level of adequacy of its own funds and liquidity. BNI’s solvency ratio was 40.43 percent, above the 12 percent established by the regulator and the liquidity ratio stood at 54.52 percent, against the regulatory 25 percent. Also noteworthy is the reduction in the non-performing loan ratio to 2.5 percent, a level well below the sector average. (Evaristo Chilingue) Source: Carta de Moçambique

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