Awards for Excellence 2008: Angola

Best bank: Banco BIC

Banco BIC was described by one banker as “Angola’s Equity Bank” (see Kenya’s best bank). In today’s African banking climate, this comparison with the Kenyan bank is praise indeed. In 2007, Banco BIC consolidated its operation in the Angolan market, increasing its commercial network to cover all the country, while maintaining a strong focus on the service quality.

The bank has only been in operation for three years but is already posting the most impressive figures in the financial sector, with a return on equity of 77%, net income increase of 146%, and an increase of 86% in total assets.