Luanda, Angola, 30 July – Angolan bank Banco Africano de Investimentos (BAI), which is majority-owned by BAI Angola and Sonangol, has been included in the “Ranking Top 1000 of the best banks in the world,” published by The Banker 2010 magazine.
According to a press release from BAI, which did not give details of its ranking on the list the bank was in 24th place in the regional ranking and in first as a driver of banks in Africa.
In order to be considered, BAI submitted all of its financial information to The Banker’s research and interview team, which made a detailed survey of 11 categories such as consolidated figures for the last financial year, cash, capital to asset ratios, credit defaults and solvency ratios, pre-tax profit,recent profit growth and return on assets.
The Banker magazine, which was established in 1926, uses “the banker database,” which is the most well-renowned financial database covering the top 5,000 banks in the world.
BAI, which was set up in 1996, currently has 66 branches in Angola and subsidiaries in Portugal, Cape Verde, Sao Tome and Principe and Brazil. (macauhub)