Banco Angolano de Investimentos (BAI) achieved a net profit of 200 billion kwanzas (221.4 million euros) in 2023, almost double that achieved the previous year, the banking institution announced today.
The 2023 net profit was 99 per cent higher than the 100 billion kwanzas (110.7 million euros) recorded in 2022, the bank said in a statement.
“At the end of 2023, net interest income stood at 201 billion kwanzas (222.6 million euros), up 6 per cent compared to the 189 billion kwanzas (209.3 million euros) generated in the same year of 2022,” the statement said.
The growth in net interest income was driven, according to the bank, by the increase in interest on securities and loans to customers.
As for operating income, it totalled 392 billion kwanzas (434.1 million euros), representing year-on-year growth of 49%, compared to 264 billion kwanzas (292.3 million euros) at the end of 2022, driven by the performance of the complementary margin.
“The complementary margin reached 191 billion kwanzas (211.5 million euros), up 155 per cent on the 75 billion kwanzas (83 million euros) recorded in 2022, reflecting the increase in the results of trading in financial instruments as well as the results of providing financial services,” the bank said in the statement.
The Chairman of BAI’s Executive Committee, Luís Lélis, attributed the “significant results of 2023” to the work of employees and the trust of customers.
For the 2024 financial year, Luís Lélis guaranteed a focus on “optimising internal processes”, as well as continuing to invest in advanced digital solutions, technological innovation and financial literacy.
Banco Angolano de Investimentos’ accounts were approved at the General Meeting on Wednesday.
Lusa
