A Review of the Nigerian Energy Industry

Angola’s banking sector consolidates growth

19 October 2014, Luanda — The Angolan banking sector continued, in 2013, in the path of growth in terms of number of branches with 11.77%, the average number of employees and 12.45% of assets with 15.8 percent in relation to the year 2012, announced on Friday in Luanda, the head of financial and audit services of KPMG, Vitor Ribeirinha.

National Bank of AngolaAccording to the official, who spoke at the presentation ceremony of the 5th edition of the 2014 Banking Study under Analysis, there are five financial institutions in the process of constitution and special registration to the National Reserve Bank of Angola (BNA), elevating to a potential of 29 commercial banks operating in the market.

He explained that the market continues to be dominated by five commercial banks, which account for 72% of total assets, despite it is already visible a gradual dilution of this preponderance.

Vitor Ribeirinha reported that in 2013 the rate of bank stood at around 30 percent, while in 2012 it was set at 23 percent of the population.

He stressed that the expansion of the network of bank branches continued to grow, by registering a growth of 14.2% in 2013, with an average opening of 13 branches per month (a total of 164 new branches opened during the year).

KPMG official noted that in 2013, the overall number of new employees has evolved around 11.7% if compared to 2012, reaching a total value above 18,800 people.

Regarding the payment system in 2013, he confirmed the positive developments in recent years in the use of means of payment and the new electronic channels (ATM network).

The network maintained its growth trend in 2013, increasing the monthly average volume of ATM transactions to 11.2 million (up 20% if compared to 2012).
*Angola press

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