Angolan financial system sees modest growth in 1st quarter

26 April 2011

Luanda, Angola, 26 April – Angola’s financial system has seen modest growth over the first quarter of this year, according to the activities summary published by the government in the period, Angolan news agency Angop reported.

Total deposits rose from 2.665 billion kwanzas at the end of 2010 to 2.911 billion kwanzas at the end of the first quarter of this year, which was growth of 9.2 percent.

This growth was influenced by an 11.9 percent rise in foreign currency deposits, as national currency deposits rose by around 6.5 percent.

Total credit remained practically unchanged, rising by just 1.92 percent. Credit provided in national currency rose 8.7 percent, accounting for 48.49 percent of total credit granted.

Credit provided in foreign currency fell by 3.72 percent, accounting for 51.52 percent of total credit granted. (macauhub)

MACAUHUB FRENCH