Bank of Mozambique returns to profit in H1 2026 on FX and gold gains

The central bank posted a 4.2 billion metical profit, reversing a 5.9 billion loss in the same period last year, as foreign exchange and gold revenues surged.

By Handelsavisen Newsroom · Automated 28 July 2026, 11:33 UTC · 1 min read

The Bank of Mozambique has swung back to profitability in the first half of 2026, posting a profit of 4.186 billion meticais (€56.4 million).

This marks a sharp reversal from the 5.869 billion metical loss recorded in the first six months of 2025, driven primarily by gains in foreign exchange operations and gold-related revenues.

13 billion meticais, the central bank benefited directly from higher gold export earnings and favorable foreign exchange movements.

Financial statements reviewed by Lusa confirm the turnaround, highlighting the central bank's improved balance sheet amid volatile regional commodity markets.

The profit recovery underscores the impact of surging international gold prices on Mozambique's monetary authority.

While the broader banking sector in Mozambique saw profits contract by nearly 39% in 2025, dropping to 15.13 billion meticais, the central bank benefited directly from higher gold export earnings and favorable foreign exchange movements.

This divergence highlights the distinct revenue drivers for the central bank compared to commercial lenders, which face pressure from credit quality and interest rate dynamics.