News from Angola – Banco Angolano de Investimento (BAI) achieved a net profit of 200 billion kwanzas in 2023, 99% more compared to the 100 billion kwanzas recorded in 2022, NA learned.
According to the Press Release that Notícias de Angola (NA) had access to today, the information comes following the Ordinary General Meeting, which took place last Thursday(27), in which shareholders decided to approve the Management Report and Accounts (individual and consolidated) and the Opinion of the Supervisory Board, relating to the 2023 financial year, including the Corporate Governance Report.
The document highlights that, at the end of 2023, the financial margin stood at 201 billion kwanzas, 6% more, compared to the 189 billion kwanzas generated in the same year of 2022.
The note states that the growth in financial margin was driven by the increase in interest on securities and credit to customers.
According to the report, the complementary margin reached 191 billion kwanzas, growing 155% compared to the 75 billion kwanzas recorded in 2022, reflecting the increase in results from trading financial instruments, as well as results from the provision of services financial.
The note details that banking income totaled 392 billion kwanzas, representing a year-on-year growth of 49%, compared to 264 billion kwanzas at the end of 2022, driven by the performance of the complementary margin.
According to the President of the BAI Executive Board, Luís Lélis, he said that the relevant results in 2023 are the result of the commitment and dedication of employees and the trust of customers.
For the 2024 financial year, BAI remains committed to continuing to innovate, adapt to market changes and realize sustainable growth opportunities.
“We remain focused on improving customer experience and satisfaction, optimizing internal processes and will continue to invest in advanced digital solutions, technological innovation and financial literacy,” he said.
Luís Lélis also highlighted the bank’s concern with sustainable development and the creation, in 2023, of the BAI Sustainability Program, as a way of responding to environmental, social and governance challenges, which have assumed increasing importance in the national financial system.