Angolan and Mozambican banks among Africa’s 100 largest – report

16 October 2007

Macau, China, 16 Oct – Three banks from Angola and two from Mozambique are the Lusophone presence in a ranking of Africa’s top 100 banks published by the monthly African Business magazine.

Five South African banks lead the list – Standard Bank Group, ABSA Group, Nedbank Group, Investec and FirstRand Banking Group – and 6th-placed Credit Populaire du Maroc has a mere US$ 1.7 billion in capital compared to the US$ 2.928 billion of 5th-placed FirstRand Banking Group.

The one-sidedness is even greater in terms of assets, with FirstRand Banking Group having US$ 61.7 billion compared to the US$ 16.002 billion of the Moroccan bank.

The National Bank of Egypt lies in 9th position in terms of capital and has assets of US$ 34.107 billion, still only half of 5th-placed FirstRand Banking Group.

The highest-placed bank from a Lusophone state in the list is Banco de Fomento Angola in 53rd position with capital of US$ 155 million, followed by Angola’s Banco de Poupança e Credito in 67th spot with a capital of US$ 66 million.

At 78th in the African Business top 100 is Banco Africano de Investimento, also of Angola, with capital of US$ 51 million, followed in 81st and 96th place by Banco Internacional de Moçambique and BCI Fomento, both of Mozambique, with capital of US$ 47 million and US$ 32 million, respectively. (macauhub)