Angola’s state banks control 32 percent of market

10 May 2007

Lisbon, Portugal, 10 May – Angola’s state banks – Banco de Poupança e Crédito (BPC) and Banco de Comércio e Indústria (BCI) – still control around a third of Angolan bank loans, whose biggest customers are private companies, according to Espiríto Santo Research (ESR).

The figures from the Espírito Santo group company, were part of a recent presentation to Spanish businesspeople at the end of April, at this year’s edition of the Madrid Export Salon (IMEX).

The leadership of the Angolan credit market is fought for by BPC, with a share of 26 percent, and by Banco Fomento, owned by Portuguese group BPI, with 24 percent of the market.

Amongst the main private banks there are also Banco Africano de Investimento (16 percent) and BESA (9 percent), according to ESR.

Despite the proliferation of private banks, “state banks continue to have a significant weighting in credit for the economy,” said ESR.

At the end of 2006, credit in the country totaled 280 billion kwanzas, or nearly 8 percent of the country’s GDP.

In relation to international standards, ESR said, this figure is “reduced” but shows a “clear growth trend,” at a rate close to 90 percent. (macauhub)