Africa-Press – Angola. The loan portfolio of the bank Caixa Geral Angola (BCGA), in the country, is in the order of Kz 247.66 billion, equivalent to 380 million euros.
The bank with foreign majority capital, that is, Portuguese, in 2022 had a net result of around 34.5 million euros (more than 22 billion kwanzas), and an average return on invested capital of 30%, in four years.
Data on the bank’s financial “health” were presented this Tuesday to the Prime Minister of Portugal, António Costa, who visited the headquarters of this financial institution, as part of his two-day visit to Angola, at the invitation of the President of the Republic, João Lourenço.
According to information shared by the executive director of BCGA, Francisco Santos, the bank has net assets of around 1.4 billion euros.
According to Francisco Santos, the BCGA has been able to increase its market share more rigorously in credit by around 3.7%, a growth of almost 1.7% in the last three years.
In deposits, Banco recorded more than 1% in the same three-year period.
With one of the highest solvency ratios in the Angolan financial system, around 30% three times the minimum regulatory capital required of a bank, the financial institution is working to conquer the market more and more.
BCGA, also according to the person in charge, is the eighth bank in terms of size of assets, in a financial system that has 25 banking financial institutions.
This medium-sized financial institution, whose shareholder composition has a 51% shareholding in the hands of Caixa Geral de Depósitos (CGD), which is 100% owned by the Portuguese State.
Since 2019, Caixa Angola has also included two Angolan businessmen, António Mosquito and Jaime Freitas, in its shareholder structure, who after the Initial Public Initiative (IPO) held 19.5% each of the Bank’s capital.
The remaining 10% were dispersed on the stock exchange by around 700 new shareholders, including employees, governing bodies, private investors, business groups, insurance companies and other Angolan institutional investors.
On the market for 30 years, with a presence in nine provinces, Caixa Angola is one of the first private banks in the country, today with 27 branches, 68 thousand private customers, of which eight thousand companies.
With 514 employees and over 74 active ATMs, the bank also has 4,100 Automatic Payment Terminals in the hands of businessmen and entrepreneurs.
Among several challenges, the shareholders seek to make the bank more structuring in the Angolan financial system and the development of digital channels.
Despite the results presented, one of the threats is exchange rate volatility, the high cost of services in the country, the entry of new international ‘players’, among other challenges.
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