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. Banco BIC has 860 employees, and a network of 80 branches.
The bank is the leading Angolan bank in foreign trade – with a total volume of transactions last year of $7.9 billion. It is this expertise and the quality of its international trade service that sets it apart from the competitors.