In December 2020, national commercial banking assets amounted to 786.2 billion Meticais, representing a growth of 17.3% over the same period of the previous year and an increase, relative to Gross Domestic Product (GDP), from 69.4% in December 2019 to 80.0% in December 2020
Tag: Bank of Mozambique
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Reference interest rate stays at 18.9% for the sixth month
Mozambique's benchmark interest rate will remain at 18.9% in September, the Mozambican Association of Banks (AMB) announced this Tuesday
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Bank of Mozambique opens two more cases against Standard Bank managers
The Bank of Mozambique announced this Friday the opening of two more "misdemeanor cases" against two managers of Standard Bank, who must also pay a fine of just over one million meticais each. Claudio Banze, director of Information Technology, and Adimohanma Chukwuma, former deputy administrator, have committed "serious offenses related to the implementation of...
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Standard Bank already has a new CEO
Standard Bank announced this Thursday the appointment of William le Roux as interim chief executive officer (CEO), effective immediately, after approval by the Bank of Mozambique
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Standard Bank can now perform foreign exchange activities in the country. The decision is from the Bank of Mozambique
The Bank of Mozambique has authorized Standard Bank to carry out foreign exchange conversion activities with its clients, after suspending the institution from the foreign exchange market for "serious infractions"
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Bank of Mozambique maintains monetary policy interest rate at 13.25%
The Monetary Policy Committee (CPMO) of the Bank of Mozambique decided this Wednesday to keep the monetary policy interest rate at 13.25%, justifying the measure with "the prospects of maintaining inflation at single digits"
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Bank of Mozambique appoints resident inspector for Standard Bank
The Bank of Mozambique has appointed, effective Monday, Zaitina Raul Chilaule, a senior manager at the Bank of Mozambique, to inspect Standard Bank, following sanctions imposed recently
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Standard Bank announces "continuity" after Bank of Mozambique punishment
Standard Bank announced Tuesday it has a plan to remain active in Mozambique, a day after the central bank announced sanctions for manipulating the foreign exchange market
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Bank of Mozambique fines Standard Bank $290 million for "serious violations
Standard Bank will pay a fine of 290 million meticais (four million euros), following the suspension of the bank for one year from all foreign exchange market activities for "serious violations".
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Standard Bank Moçambique suspended from foreign exchange activity for a year
Standard Bank, one of the largest commercial banks operating in Mozambique, was suspended on Monday, 12, by the Bank of Mozambique from all foreign exchange and currency conversion activity for a period of up to one year, due to "serious prudential and foreign exchange violations"