African Awards for Excellence 2013: By country
|Regional Awards for Excellence 2013: Africa|
|African winners by country
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.
BAI held the top position in the Angolan banking market, with total assets of more than $10 billion, making it one of the biggest banks in sub-Saharan Africa outside South Africa.