The Bank of Mozambique has appointed resident inspectors to oversee the operations of Banco Comercial e de Investimentos (BCI) and Standard Bank, ensuring that all three of the country’s largest financial institutions are now under this form of supervision.
Despite this move, the central bank emphasized that both BCI and Standard Bank remain “solid and stable.” The decision is part of an effort to provide “continuous, objective, and impartial monitoring” of these credit institutions, protecting customers’ interests and maintaining the stability of the financial system.
Effective October 14, Adelina José Chilaúle, a senior executive at the Bank of Mozambique, will serve as resident inspector at BCI, part of the Portuguese Caixa Geral de Depósitos group, while Cláudio Júlio Mangue has been appointed as resident inspector at Standard Bank. Both inspectors will adopt a risk-based supervisory approach and participate in relevant meetings of the banks’ governing bodies.
This follows the earlier appointment, on May 3, of Hélder Manuel Chachuaio Muianga as resident inspector at Millennium BIM, part of the Portuguese BCP group. BCI, Millennium BIM, and Standard Bank are the three institutions classified as systemic banks in 2024 by the Bank of Mozambique, consistent with the previous year’s classification.