The market supported few medium term loans. As foreign investors enter the market and local ones become more established, this is beginning to change.
All banks are now private.
A few new banks have entered the market. One of BPD's first moves was to lower its lending rates, a sight for sore Central Bank eyes. A new entrant in 1997 was Banco Comercial e de Investimento, which expanded operations into commercial banking after Caixa Geral of Portugal assumed control. Last year, BIM also acquired the local operations of Banco Portugues do Atlantico. The remaining bank, Banco de Fomento do Exterior, is based in Portugal and maintains a branch in Maputo.