Banco Africano de Investimentos bank maintains leadership of Angolan banking market in 2011

20 April 2012

Angolan bank Banco Angolano de Investimentos (BAI) in 2011 remained the leader of the Angolan market with a 20 percent share by total deposits and loans, according to figures presented in Luanda by the Angolan National Bank.

At the end of 2011, BAI had deposits and loans worth US$10.455 billion and US$3.235 billion, respectively, and ended the financial year with net assets of US$11.887 billion, which represented growth of 42 percent against 2010 and net profit of US$212 million.

Cited by Angolan news agency Angop, the figures from the central bank showed that BAI also increased its number of branches to 106, as compared to 85 in the previous year, and continued to focus on reaching its customers across the country. It customer base rose from 295,000 in 2010 to 414,000 in 2011.

The Banker magazine ranked BAI in 22nd place (24th in 2009) in the list of Africa’s top 25 banks and in 686th place (711th in 2009) in the list of the world’s biggest banks. (macauhub)