Angola’s Banco Fomento ranks first amongst Angolan lenders in 2005

26 January 2006

Luanda, Angola, 25 Jan – Angolan bank, Banco Fomento de Angola (BFA), owned by Portugal’s BPI, has reached first place in the ranking of lending institutions in Angola, displacing Banco de Poupança e Crédito, which kept it place as the bank with highest value of deposits, official figures showed Thursday.

According to the figures from the National Bank of Angola, BFA accounted for 26.9 percent of all loans offered in the country in November, after 23.24 percent in July.

BPC saw its percentage to fall from 27.42 percent to 24.18 percent, in the same period.

In total, BFA loans reached 62.3 billion kwanza, 6 billion more than BPC.

The third largest lender was Banco Africano de Investimento (15.1 percent), followed by Banco Espírito Santo (11.78 percent) and Banco de Comércio e Indústria (5 percent).

In its latest report on the Angolan economy, published in mid-January, Portuguese bank BPI said that the Angolan financial sector was “on a high” in 2006 as the national currency, the Kwanza, was increasing in value against the US dollar and deposits and loans were increasing. (macauhub)