Millennium bim

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Headquarters of the Millennium bim in Maputo

Millennium Banco Internacional de Moçambique SA , or Millennium bim for short , is one of the largest Mozambican credit institutions . The institute is majority owned by the Portuguese bank Millennium BCP .

history

In the course of Mozambique's change to a free market economy in the early 1990s, the Mozambican government decided to open the market to private financial institutions as well. Until then, the central bank Banco de Moçambique was the only financial institution in the country. In a partnership with the Portuguese Banco Comercial Português (BCP), the previous private customer business of the central bank was spun off as of November 30, 1995 into a new institute called “Banco Internacional de Moçambique”. Both the state and BCP held shares in the bank.

In 2001, the Banco Internacional de Moçambique merged with the Banco Comercial de Moçambique , making it the largest bank in Mozambique. In 2006 the bank carried out a complete brand change and renamed itself “Millennium bim” after the new name of the Portuguese shareholder (Millenium BCP).

José Reino da Costa currently leads the company as CEO.

Headquarters and branches

Typical small-town branch in Massinga ( Inhambane province )
The second headquarters of Millennium bim in the capital Maputo is located in the Torre millennium bim on Avenida 25 de Setembro

Millenium bim is based in the Mozambican capital Maputo . In addition to the 25-storey tower “Torre millenium bim”, which can be seen from afar, the bank moved into another office on Rua dos Desportistas in the new business district of Maputo.

Millennium is the bank with the largest branch network in Mozambique, ahead of Banco BCI . At the beginning of 2016, the institute had 1.5 million customers, 169 branches and 458 machines. In many districts of Mozambique, Millenium bim is often the only bank in the region. With a market share of more than 30 percent in the areas of savings, loans and assets, the bank is the market leader. Currently, only a good 20 percent of the Mozambican population even have an account (with a focus on the Maputo region). The aim of the bank is to be represented in all 151 districts of Mozambique .

Due to the weak infrastructure - branches can only be opened in places with asphalt roads and connection to the power grid - the bank has developed other forms of financial services. Based on the M-Pesa system developed in East Africa, account transactions can be managed via SMS using the bank's own "IZI" system. In 2015, the bank also announced that it would be hiring mobile bank advisors. By the end of 2016, 500 mobile bank advisors should bring the Mozambican population closer to the services of the millennium bim. Since 2016 there has also been a partnership with the state postal company Correios de Moçambique to offer millennium bim services in all post offices. In exchange, the bank is renovating the more than 120 branches of the Post, of which just under 30 are even functional.

Shareholders

The largest shareholder in the bank is the Portuguese parent company Millenium BCP with 66 69 percent. The Mozambican state holds 17.12 percent directly in the bank, and another 4.95 through the Instituto Nacional de Segurança Social . The Mozambican insurance company Emose holds 4.15 percent of the bank.

Web links

Commons : Millennium bim  - collection of images, videos and audio files

Individual evidence

  1. ^ Banking Sector: Millennium bim is the Leading Bank in Mozambique. In: www.marcopolis.net. Retrieved June 12, 2016 .
  2. ↑ Millennium bimatinge 1,500,000 clients. (PDF, 110 KB) (No longer available online.) Millennium BIM, 2016, archived from the original on June 12, 2016 ; Retrieved June 12, 2016 (Portuguese). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / inst.millenniumbim.co.mz
  3. ↑ a b Luís Villalobos: Portugueses lideram banca moçambicana num mercado em ascensão. In: Público. June 11, 2014, accessed June 12, 2016 .
  4. ↑ Moçambique desafia banco Millennium a cobrir todo o país. In: www.jornaldenegocios.pt. Retrieved June 12, 2016 .
  5. ↑ Millennium bim in Mozambique expands through “banking agents” | Macauhub English. In: Macauhub English. Retrieved June 12, 2016 (American English).
  6. ↑ Banco Millennium bim e Correios de Moçambique assinam parceria para reabilitar 90 estações postais. In: dinheirodigital.sapo.pt. Retrieved June 12, 2016 .