BdM: Number of complaints against Mozambican banks doubled in the second half of 2023

BdM: Número de queixas contra bancos moçambicanos duplicou no segundo semestre de 2023

The number of complaints against Mozambican banks doubled in the second half of 2023, from 349 in the previous period to 741.

The data is contained in a note issued by the central bank last Friday and which MZNews had access to, stressing that Banco Comercial e de Investimentos (BCI), controlled by the Caixa Geral de Depósitos group, and Millennium bim, owned by the Portuguese group BCP, received 209 and 169 complaints respectively against financial system institutions in the second half of last year, out of the total number of complaints against financial system institutions received by the Bank of Mozambique (BdM).

According to the BdM's global analysis, the main complaints are about bank accounts, loans, ATM machines and foreign exchange transactions.

Thus, BCI and Millennium bim, the two banking institutions and the only ones classified with more than one million customers in the country, had a complaints index (complaints per 100,000 customers) of 9.15 and 8.58 complaints respectively.

According to the same publication, "the three banks classified with 200,000 to one million customers, South Africa's Absa Bank and Standard Bank, along with Moza Banco, added 28, 51 and 30 complaints respectively."

The central bank's list includes complaints about 24 credit institutions and financial companies, including 14 banks, six microbanks, two cooperatives and two electronic money institutions.

Share this article

Leave a Reply

Your email address will not be published.