BMI Research predicts that the banking business in Mozambique will grow considerably this year, Lusa reports.

The Portuguese news agency quotes a report by the research house on Mozambican banking as saying faster-than-expected economic growth and less unruly inflation mean the outlook for the evolution of commercial banking is rosier now than at the beginning of the year.

BMI Research forecasts that banking industry assets will grow by 7 percent this year, and that in each of the next 2 years, lending will grow by 17.5 percent.

Credit growth is justified by construction business in Mozambique being “more resilient than the expectations”, Lusa quotes BMI Research as saying.