Business in Angola makes most profit for Portuguese banking group BPI

25 October 2012

Business in Angola is expected to remain the most dynamic part of Portuguese banking group Banco BPI after generating profit of 19.8 million euros in the three months ended in September, according to Angolan weekly newspaper Expansão.

Citing information from the bank, Expansão said that BPI’s results had increased in the first nine months of 2012 mainly due to the contribution of the group’s Angolan interests.

Analysts from Caixa Banco de Investimentos forecast growth of 6.7 percent in the group’s profit in the first nine months of the year to 115.8 million euros.

Credit imparity is expected to remain the biggest concern, according to the analysts’ report, which cites austerity measures to explain the expected outlook.

In Angola BPI has market shares of 9 percent for loans and 15 percent for deposits and of 24 percent for credit and debit cards and 30 percent for payment terminals, via Banco de Fomento Angola (BFA), in which it has a 50.1 percent stake.

At the end of June 2012, the BFA served 971,000 customers, with a string presence in Luanda and coverage all over the country, with 138 branches, eight investment centres and 14 business centres. (macauhub)