Six banks from Angola and two from Mozambique amongst Africa’s 100 largest

10 October 2011

London, United Kingdom, 10 Oct – Six banks from Angola, the first of which is Banco de Fomento Angola, and two from Mozambique are included in the 2011 list of the biggest banks in Africa by capital published by the African Business magazine.

On the list, which is dominated by South African banks with five of the top ten positions (1st, 2nd, 3rd, 4th and 7th places), Banco de Fomento Angola is ranked 32nd with its capital of US$654 million, as compared to the biggest bank on the list, the Standard Bank (Group) with capital of US$12.062 billion.

The capital of the top four banks on the list – Standard Bank (Group), ABSA Group, FirstRand Banking Holdings and Nedbank Group – totalling US$31,964 billion is the equivalent of the total capital of all the banks from 5th on the list (Attijariwafa Bank of Morocco) to the 23rd places (Algeria’s Banque de l’Agriculture et du Development Rural).

Immediately after Banco de Fomento Angola, in 33rd place, is Banco Africano de Investimento, with capital of US$639 million, with Banco de Poupança e Crédito, in 38th place (US$526 million) and Banco BIC, in 42nd place, with capital of US$461 million.

In the middle of the ranking – in 50th place – is Banco Espírito Santo Angola, with capital of US$400 million and in 84th place is Banco Millennium Angola, which has capital of just US$152 million.

The only two banks from Mozambique to be included in the list are Millennium bim in 77th place with capital of US$152 million and Banco BCI in 99th place, with US$106 million. (macauhub)