Semana de Moçambique em Portugal Millennium bim Business review and development plans June 20, 2007

2 Portugal Key Indicators Loans to Customers (net): million euros (market share of 14,4% in mortgage credit new production year-to-date until February 2007) Customer Funds : million euros (market share of 3,7% in mutual funds in March 2007) Employees: Branches: 366 Loans to Customers (net): million euros (market share of 3,5% in new production of mortgage credit in December 2006) Customer Funds: million euros (market share of 0,9% in Deposits January 2007) Employees: Branches: 150 Loans to Customers (net): million euros (market share of Loans to Customers gross excluding securitization 24,9% in December 2006) Customer Funds: million euros (market share of 21,4% in December 2006) Employees: Branches: 863 PolandGreece Key Indicators Loans to Customers (net): ~750 million euros Customer Funds: ~1.500 million euros Employees: 643 Branches: 37 Key Indicators (As at March 2007) MozambiqueOthers Loans to Customers (net): 304,3 million euros (market share of 40% ) Customer Funds: 588,5 million euros (market share of 20%) Employees: Branches: 76 Key Indicators ( end 2006) A leading multi domestic group focused on retail

3 With a balanced portfolio Population (million of inhabitants) GDP (€ billion) GDP per capita (€ thousand) Banking Revenues(€ billion) ,1 8, , ,0 Growth Stage Growth/Maturity Maturity High Medium Moderate Growth Opportunities Short Term Long Run Early Stages Banking Volumes / PIB (%) Growth ,1 0,3 22 High ,3 0,1 37 Early Stages

4 Mozambique presents a strong and increasingly stable macro economic environment Real GDP GrowthInflation Annual average Short Term Interest Rate Treasury Bill rate 91d MZN / USD Annual average Source: Millennium bim; Mozambique Central Bank, IMF E2007F 2008F E2007F 2008F E2007F 2008F 8,2% 7,9% 7,5% 6,2% 7,0% 16,8% 13,4% 12,7% 7,2% 13,3% 6,5% 5,7% 21,5% 13,2% 10,5% 10,2% 16,0% 12,0% 10,0% 23,7 23,8 22,6 23,1 25,0 26,5 27,5 2009F 7,0% E2007F 2008F2009F 5,4%

5 With plenty of room to grow Less than 4% of the population uses a Bank 1 branch per Km 2 and people per branch Low GDP Per Capita (USD 380 in 2006) but growing (USD 313 in 2004 and USD 347 in 2005) Aggregate banking sector Assets represent only 17% of GDP (26% in Tanzania, 37% in Nigeria and 110% in South Africa) Undeveloped Banking Sector Deposits / GDP 2009F 26% 25% 27% 2008F2007F % Credit / GDP 2009F 18% 16% 20% 2008F2007F % Source: IMF

6 McK deliverables v0.1 Organic growth and strong innovation to become relevant player : From incorporation to high profitability Merger with BCM to reach critical dimension On the path to the future… Restructuring, setting up the basis for a higher profitability level – 2006 … with a vision: enlarging the domestic banking market while maintaining cost effectiveness, aiming to expand its business base with profitability increase SHAREHOLDERS STRUCTURE BCP Mozambican State INSS EMOSE FDC Others* Total *Others: individuals with less than 1% each 66,7% 18,7% 5,0% 4,1% 1,1% 4,5% 100%

7 Undisputed leadership Assets Net Income EUR million DepositsLoans to Customers 38,7% 39,8% 39,3%38,2 21,6% 19,2% 9,5% 11,0% 31,6% 11,5% 4,4% 12,7% 20,2% 22,4% 9,5% 8,6% 15,5 13,7 1,4 2,3 Banks Others Banco Austral Market share end 2006

8 Covering all segments  Strong bancassurance operation, leader in Mozambique Mass Market (# ) Affluent (individuals & businesses # 5.500) Corporate (# 800)  First bank in Mozambique to offer this product  Equipment and buildings, to private and corporate customers  Investing, consulting, advising and capital markets  Short / long term financing, import & export support, hedging solutions  Biggest ATM’s and POS’s network and nearly 90% of cards penetration rate Prestige (# 400) Retail banking Corporate banking Investment banking Leasing Factoring Insurance

9 Thru multiple channels Corporate banking Investment banking Leasing Factoring Insurance Retail banking Branch network ATM’s & POS’s Internet banking Phone banking SMS banking

10 Nationwide network and direct channels Km long 20 million people  76 branches  200 ATM’s  POS’s  cards  Telephone banking  Internet banking North corridor Maputo city – 28 branches Beira city – 7 branches Beira corridor Maputo corridor Higher activity areas Nampula city – 3 branches

11 EUR million +111% Net Income & ROE 8,6 13,0 38,2 19,2% CAGR With a solid financial performance 23,6%67,3% Loans to Customers Net of Provisions CAGR ,2 285,6 304,3 +16% Customer Funds CAGR ,2 634,6 588,5 +2%

12 Strategic challenges and Way forward Sustainable profits growth Business base expansion Maintain cost effectiveness With new or reinforced lines of business and branch expansion

13 With new or reinforced lines of business  Expansion of the low end segment to formally employed individuals  Full range of banking services targeting three million cell phone users  Young and formally employed essentially thru protocols with municipalities and big companies Mortgage Credit Mbim SMS Consumer Credit RETAIL  Focus on Project and Structured finance  Focus on adequate underline risks, like top tier companies and public sector  Leveraging foreign trade growth Trade Finance Factoring Investment Banking CORPORATE

14 And branch expansion 6 new urban branches From 76 branches today… …to 131 branches in 2010, with: Clear focus on retail to reach the low end of the customer base in an cost effective way, whilst allowing to serve better the Affluent segment 28 new peri-urban branches 21 new rural branches Investing EUR 2,8m Investing EUR 6,5m Investing EUR 4,9m Nearly doubling the customer base to 700 thousand customers

15 The first new peri-urban branch