Banco Angolano de Investimentos: Best Social Impact Bank Angola 2017
Sowing remarkable resilience in the face of an economic downturn caused by the collapse of oil prices, Banco Angolano de Investimentos (BAI) has steadily managed to generate solid financial results, growing both its net income and profitability. Set up in 1996 as the first privately-owned bank of the country, BAI has become one of Angola’s largest financial services providers with a network of 144 branch offices and 11 business centres covering the entire country.
Though almost three-quarters of the bank’s dealings originate from the business sector, BAI includes a fast-growing retail banking pillar erected on the basis of a full-service approach that includes multiple insurance products. Transformed into a group two years ago, BAI also comprises a separate insurance business, a micro-finance bank, and a wholly-owned subsidiary in Cape Verde. BAI also retains a share in the International Bank of São Tomé e Príncipe and Angola’s Private Investment Fund (FIPA).
BAI developed a number of corporate social responsibility initiatives to promote financial inclusion, improve education and healthcare, and lessen poverty. The bank’s micro-finance operations has received wide recognition for its success in helping budding entrepreneurs set up and consolidate their businesses.
BAI receives assistance from the International Monetary Fund (IMF) to ensure continued compliance and facilitate the implementation of its 2016-2021 Strategic Plan which envisions the bank as Angola’s best financial services provider across all business segments.
The CFI.co judging panel commends BAI on its hands-on attitude and determination to grow and prosper through excellence. The judges are therefore pleased to offer Banco Angolano de Investimentos the 2017 Best Social Impact Bank Award.
