Banco de Fomento Angola (BFA) closed the first half of 2026 with a net profit of $128.6 million, equivalent to 117.3 billion kwanzas, representing growth of 1.6% compared with the $126.6 million recorded in the same period of 2025.
The performance keeps BFA among the most profitable institutions in Angola’s financial system, underpinned primarily by growth in net interest income and complementary margin, which rose 14.7% and 32.5%, respectively.
The bank’s overall activity also expanded, with customer resources reaching approximately $3.79 billion, up 7.6% year-on-year, reinforcing its capacity to attract deposits.
Net interest income, one of the principal drivers of banking activity, grew 14.7% in an environment characterised by persistently high interest rates and sustained demand for financial instruments.
The complementary margin posted an even more pronounced increase of 32.5%, contributing to the improvement in net profit for the half-year period.
In the first quarter, BFA had already recorded year-on-year growth of 16.9% in net interest income, reaching $100.3 million, while banking product rose 10.3% to $126 million. First-quarter net profit, however, declined 9.9% to $63.6 million.
On the liabilities side, deposits and other customer resources remained one of the bank’s principal strengths. In May, BFA expanded its savings product offering, introducing 90-day term deposits at interest rates of 15% and 15.5%.
“The bank’s activity also grew, with customer resources reaching approximately $3.79 billion, up 7.6% compared with the same period last year, reinforcing its deposit-gathering capacity.”
Financial soundness remained high. At the end of the first quarter, the regulatory capital ratio stood at 39%, while equity and equivalent instruments amounted to $807.9 million. Total net assets reached $4.79 billion, up 2.2% from year-end 2025.
The first-half profit represents a modest improvement on the $126.6 million recorded in the same period of 2025, and a significant increase from the $98.1 million achieved in 2024.
The results come in the first full year following BFA’s entry into Angola’s capital markets. In September 2025, a public share offering of 29.75% of the bank’s equity attracted demand equivalent to 506.37% of the offer, raising $242.2 million.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/12/mundo/angola/angola-bfa-fecha-primeiro-semestre-com-lucro-de-127-m/
