Angola’s retail bank has deposits totalling US$7.3 billion at the end of 2006

28 September 2007

Luanda, Angola, 28 Oct – The Angolan retail banking system at the end of 2006 had total deposits of US$7.3 billion, a rise of 62 percent against 2005, a report called “Banking under analysis 2007, published Thursday in Luanda, showed.

According to the report, promoted by the Angolan Association of Banks (Abanc) and carried out by international consultancy Deloitte, 65 percent of deposits were concentrated on three banks, Banco de Fomento Angola (BFA), BPC and BAI.

The increasingly aggressive competition in the financial sector, the report added, was contributing to dilution of this concentration as in 2005 these three banks had 71 percent of all deposits.

In 2006, deposits at Banco Internacional de Crédito (BIC) whose operations began in May 2005, saw growth of 265 percent, which gave it fourth place in the list of deposits.

According to Deloitte’s report, based on the 14 banks operating in the country, in terms of deposits the BFA was ranked first with a market share of 23.4 percent, BAI was in second with 21.16 percent, the BPC was placed third with 20.16 percent and BIC in fourth with 10.94 percent.

As well as the National Bank of Angola (BNA), which has the role of central bank the Angolan market now has 17 retail banks: Desenvolvimento de Angola (BDA), de Poupança e Crédito (BPC), de Comércio e Indústria (BCI), Africano de Investimentos (BAI), Sol, de Fomento de Angola (BFA), Internacional de Crédito (BIC), Millennium Angola (BMA), Popular de Angola (BPA), Novo (NVB), Espírito Santo Angola (BESA), Totta de Angola (BTA), Comercial Angolano (BCA), Regional do Keve (BRK), de Negócios Internacional (BNI), Banc and VTB-África. (macauhub)