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Angola |
Rapid improvements in financial regulatory structures, increased levels of international investment and oil and gas production in Angola have sparked a rapid expansion of the country’s banking sector.
Meanwhile, banks remain under pressure. Profits have become strained and increases in non-performing loans are common, partly due to a weakening real estate market.
Banco Angolano de Investimentos (BAI), however, has weathered the storm well and deserves the accolade of best bank in Angola for the third year in a row. BAI, with Mário Alberto dos Santos Barber as chief executive since 2010, increased loan loss provisions to reflect increased credit risks, which led to a decrease in net profit this year to $124 million from $180 million in 2012, but in doing so, the bank has managed to lower its NPL ratio to 6.9%