Millennium Bim

Banco Internacional de Moçambique, SA, is the largest bank in Mozambique. In mid-2006, the bank engaged in a major rebranding exercise and today trades as Millennium bim, synchronizing its name and brand with that of its major shareholder - Portugal-based Millennium bcp. The bank has a market share of around 40% in all leading bank markets (total assets, loans portfolio and deposits). Its total assets at the end of 2011 were above USD 2.000 million.

The bank's headquarters are in Maputo, it has a network of 150 branches throughout the country, and about 2300 employees. Millennium bim is active in commercial, retail and investment banking. It holds the majority of share capital of Millennium seguros (trading name of SIM - Seguradora Internacional de Moçambique) which plays also the major role and leads in Mozambique's insurance market. Millennium bim offers the most extensive ATM and POS networks on Mozambique and can deliver its products through ATMs, POS terminals, internet, phone banking and sms banking.

Mário Machungo has led the bank since its foundation. In late 2006, the bank adopted a new governance model in which it split the Board of Directors from the Executive Committee. Executive Committee is actually leaded by Manuel Marecos Duarte and includes as board members Teotónio Comiche, Paulo Tomás, António Gomes Ferreira, Ricardo David, Rogério Ferreira and João da Cunha Martins.

Since 2006, prestigious The Banker magazine named recursively the bank the best Mozambican bank of the year. In 2008, not less prestigious African Banker magazine named it one of the seven best local banks in Africa, award that it was achieved in 2010. Several other similar awards have been collected by this bank in recent years.

Read more about Millennium Bim:  History

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