Angola Banking Report

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Angola Banking Sector: Overview Challenges & Opportunities Basic information about the country Angola, officially the Republic of Angola , is a country in southern Africa bordered by Namibia on the south, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on the Atlantic Ocean with Luanda as its capital city. The exclave province of Cabindahas borders with the Republic of the Congo and the Democratic Republic of the Congo. The Economy of Angola is on
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  Angola Banking Sector: OverviewChallenges & Opportunities  Basic information about the country Angola, officially the Republic of Angola , is a country in southern Africa bordered by Namibia on thesouth, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on theAtlantic Ocean with Luanda as its capital city. The exclave province of Cabindahas borders with theRepublic of the Congo and the Democratic Republic of the Congo.The Economy of Angola is one of the fastest-growing economies in the world, with the Economistasserting that for 2001 to 2010, Angolas' Annual average GDP growth was 11.1 percent. It is stillrecovering from the Angolan Civil War that plagued Angola fromindependence in 1975 until 2002. Despiteextensive oil and gas resources, diamonds, hydroelectric potential, and rich agricultural land, Angolaremains poor, and a third of the population relies on subsistence agriculture. Since 2002, when the 27-year civil war ended, the country has worked to repair and improve ravaged infrastructure and weakened political and social institutions. High international oil prices and rising oil production have led to a verystrong economic growth in recent years, but corruption and public-sector mismanagement remain, particularly in the oil sector, which accounts for over 50 percent of GDP, over 90 percent of export revenue,  and over 80 percent of government revenue. Angola: Banking Overview The Angolan market comprises a total of 23 Banks, according to the listing of Banking Institutionsauthorized to operate in Angola, published on the BNA site on 7 July 2011. Name of BankYear BANCO DE POUPANÇA E CRÉDITO, S.A.R.L. 1976BANCO DE COMÉRCIO E INDÚSTRIA, S.A.R.L. 1991BANCO CAIXA GERAL TOTTA DE ANGOLA, S.A.1993BANCO DE FOMENTO, S.A. 1993BANCO AFRICANO DE INVESTIMENTOS, S.A. 1997BANCO COMERCIAL ANGOLANO, S.A. 1999BANCO SOL S.A. 2001BANCO ESPÍRITO SANTO ANGOLA, S.A. 2002BANCO REGIONAL DO KEVE, S.A. 2003BANCO BAI MICRO-FINANÇAS, S.A. (1) 2004BANCO BIC, S.A. 2005BANCO PRIVADO ATLÂNTICO, S.A. 2006BANCO MILLENNIUM ANGOLA, S.A. 2006BANCO DE NEGÓCIOS INTERNACIONAL, S.A. 2006BANCO DE DESENVOLVIMENTO DE ANGOLA 2007BANCO VTB-ÁFRICA, S.A. 2007BANCO ANGOLANO DE NEGÓCIOS E COMÉRCIO, S.A. 2007FINIBANCO ANGOLA, S.A. 2008BANCO KWANZA DE INVESTIMENTO, S.A. (2) 2008STANDARD BANK2009BANCO COMERCIAL DO HUAMBO – BCH 2010  BANCO PARA PROMOÇÃO E DESENVOLVIMENTO, S.A. – BPD2010BANCO VALOR, S.A. – BVB 2010During 2010, the Banking Sector in Angola, naturally influenced by the dynamics of the macroeconomicaggregates, continued to present an accentuated growth of its activity, inclusive over that of the economy.Considering the Financial Institutions under analysis, the Sector grew both in size(increase of some 21% inassets, 22.1% in number of branches and 18.2% in number of employees), as well as in profitability(increase of 24.2% in Banking Income and of 24.3% in Net Income).With the sustainable growth of boththe GDP and the Banking Sector, in size and profitability,its is of relevance to conclude that the Sector isstill gaining maturity and, therefore, has scope for the Financial Institutions to grow organically. Theemergence of the Angolan economy, as one of the main powers in the sub-Saharan region, also permits theinternationalization of its’ operations, not solely to countries with cultural affinities, but also to neighboringcountries with which it maintains significant commercial relations. Evolution of the Sector: In 2010, three new Financial Institutions with distinctive characteristics entered the Angolan BankingSystem, raising the number of Banks authorized by the BNA to operate in the Angolan market to 23. Bank usage: During 2010, the Financial Institutions continued to invest in the expansion of their activity, opening moreand more branches and focusing on expanding the coverage throughout the 18 provinces comprising theAngolan territory.For the ten Banks that reported the number of branches in 2010, it was observed an average of 12.5 branches opened per month (with a total of 150 new branches opened during the year), reflecting anincrease of 22.1% in the number of branches in 2010, when compared to 2009.
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