African Awards for Excellence 2013: By country

Angola

Best Bank: Banco Angolano de Investimentos

As Angola’s economy makes impressive strides forward, the national regulator has introduced essential tough rules on the banking sector to meet calls for increased transparency and stability. As a result, some banks have taken a hit.

Nevertheless, Angola’s biggest bank by assets, Banco Angolano de Investimentos (BAI), still reported net income of $180 million in 2012 despite higher loan provisions and administrative costs resulting from the bank’s expansion plans, as well as tax increases.