Banco Internacional de Moçambique (Millennium bim)
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Banco Internacional de Moçambique, SA, presented to the market as Millennium bim, is the largest Mozambican Bank and is headquarted in Maputo.
Millennium bim is mainly active in commercial banking, retail banking and investment banking. It holds the majority of share capital of SIM (Seguradora Internacional de Moçambique) which plays also the major role in mozambican insurance market.
Millennim bim has a nation wide network of 78 branch offices throughout Mozambique, namely, as of March 2007:
Maputo Provence - 34 branches; Gaza Provence - 6 branches; Inhambane Provence - 7 branches; Sofala Provence - 9 branches; Manica Provence - 3 branches; Zambézia Provence - 5 branches; Tete Provence - 2 branches; Nampula Provence - 3 branches; Cabo Delgado Provence - 3 branches; Niassa Provence - 2 branches;
Millennium bim offers the most extended Mozambican ATM and POS networks as well as it is very focused in deliver its products through internet, phone banking and sms banking.
[edit] History
Banco Internacional de Moçambique (Millennium bim) was founded in 30 November 1995 by its major shareholder Banco Comercial Português (actually acting in the market as Millennium bcp) as some mozambican state bodies.
Since very beginning, Banco Internacional de Moçambique started to invest heavely in electronic banking, setting up the first mozambican bank with a real time network, including branches, ATM's and POS's.
After the merger with BCM - Banco Comercial de Moçambique, in November 2001, Banco Internacional de Moçambique became the largest mozambican bank, with market shares around 40% in all leading bank indicators (total assets, loans portfolio and deposits). Its total assets at the end of 2006 were around USD 900 million.
In middle 2006, Banco Internacional de Moçambique performed an important rebranding process and is nowadays trading as Millennium bim, sinchronizing is trademark image with its major shareholder.
Leaded by Mr. Mário machungo since the first day of its activity, the Bank defined a new governance model in late 2006, splitting the board of directors (with mainly supervision duties) from Executive Committee, leaded by Mr. João Figueiredo Junior, wich includes also Mr. Teotónio Comiche, Mr. Paulo Tomás, Mr. António Gomes Ferreira and Mr. Oldemiro Balói.
The bank has actually around 1.400 employees and was awarded, by third year in a row as the best mozambican bank by a Financial Times Group specialized magazine "The Banker".
