International Finance
Banking

Banco Único becomes 6th biggest bank in 3 years

It was the 18th bank to start operations in Mozambique

February 6, 2015: Banco Único, one of Mozambique’s youngest but fastest-growing financial enterprises, has enjoyed a meteoric rise since it was established just three years ago, thanks to its dynamic and passionate approach to banking and focus on tailor-made solutions for clients.

It started operations by opening five branches in 2011. It was the 18th bank to enter the market but is now the 6th largest in the country.

Headed by industry veteran João Figueiredo, who in 2013 was honoured with the prestigious title of African Banker of the Year, Banco Único boasts an ability to adapt to the need of every company operating or investing in Mozambique, irrespective of the sector.

Already the sixth largest bank in Mozambique, it offers a diverse range of cutting edge financial products and banking services for individuals, and local and foreign companies of all sizes and across all sectors of the Mozambican economy. Figueiredo explains how the ambitious bank has gone from strength to strength and achieved such an impact on the country’s financial services landscape in such a short span.

“We recreated the way to do ‘banking’,” says the CEO and Chairman. “Our range of products is vast and includes all products commonly offered by banks, from mortgage lending to consumer leasing among others, but more than selling products and services, we design solutions for our clients. This transforms Banco Único into a ‘tailor-made bank’. A bank inspired by customers, that does not sell products but builds a common future, fully aligned with their needs and providing value-added solutions. This is the great secret of Banco Único.”

According to Figueiredo, the group’s ability to customise financial products and services for each client according to their specific industry or business area allows the bank to take advantage of greater amount of business and investment openings.

“We have a division of investment banking. This division has the ability to work to capture business opportunities,” he explains. “We have managers with substantial experience in the markets, who are able to identify investment opportunities here. We believe that partnerships have to add value and must be based on providing mutual competitive advantages. We have the ability to build these partnerships between international companies and local businesses.”

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