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. Over the year, the number of retail clients also increased by 17%.
Best Bank: Ecobank Ghana
Following on from its merger with Trust Bank in January last year – to become the largest bank in the country in terms of assets – Ecobank Ghana has gone from strength to strength to take the award for best bank in Ghana for the fourth year in a row.