According to a BAI report – whose financial data used in its preparation for March this year and March 2022 were not subject to audit –, sent to VerAngola, net assets rose by 43 billion dollars compared to December last year.
"Assets increased by 43 billion kwanzas compared to December 2022, totaling 3238 billion kwanzas, resulting from the 10 percent increase in own funds", says the document.
In addition, there was also a two percent increase in credit to customers. According to the report, in March of this year, "net credit totaled 408 billion kwanzas, corresponding to an increase of 16 billion kwanzas compared to December 2022".
A variation that can be fundamentally explained "by the increase in the gross loan portfolio in national currency by four percent (20 billion kwanzas), explained by disbursements to the non-financial business private sector, individuals and amortization of credit in foreign currency in the amount of six billion kwanzas in the public and private non-financial business sector".
The "transformation ratio (credit over deposits) increased by around one percentage point, standing at 16 percent in the first quarter of 2023", says BAI.
The individual net result stood at 86 billion kwanzas in March 2023, which shows growth of around 110 percent compared to March last year.
"Individual net income stood at 86 billion kwanzas in March 2023, showing growth of 110 percent compared to 41 billion kwanzas in March 2022", reads the report, which justifies this performance with the "positive evolution of the complementary margin, with emphasis on the results of negotiations of financial instruments".
Also noteworthy was the 86 percent growth in banking income. "The increase in banking income, by 61 billion kwanzas, reflects the growth of 64 billion kwanzas (292 percent) in the complementary margin, resulting from capital gains with the replacement of non-adjustable Treasury Bonds (OTMN-NR), despite the 6 percent reduction in the financial margin", says the document.
BAI also informs that the results of trading in financial instruments had an increase of 63 billion kwanzas compared to March last year, having positioned itself at 81 billion kwanzas in March this year, "resulting from capital gains with the replacement of Non-Adjustable Treasury Bonds (OTMN-NR) with short/medium term maturities for long term maturities".
On the other hand, the report adds, "interest costs on deposits increased by 37 percent, rising to 23 billion kwanzas in March 2023, compared to 16 billion kwanzas accounted for in the same period, as a result of of the strategy for attracting deposits, with emphasis on the possibility of making term investments in BAI Directo".
In terms of results, the reduction of structure costs by one percent should also be highlighted. According to the report, structural costs reached 33 billion kwanzas, "recording a decrease of one percent year-on-year, essentially influenced by the 21 percent reduction in costs with third-party supplies", while the "personnel and amortization and depreciation costs increased by 26 percent and 11 percent respectively".
There was also an increase in appropriations for credit impairment, in the order of eight billion kwanzas. "The allowances for impairment of credit to customers were reinforced by eight billion kwanzas in the quarter, mainly due to the increase in subscription credit (guarantees given)", adds the report.
In the digital world, BAI Directo stands out, which since its launch has registered a satisfactory level of adherence.
"Since its launch, the digital platform (BAI Directo) has registered a satisfactory degree of adherence. Of the 2,069,532 active customers, 725 thousand customers are regular users of BAI Directo (35 percent of the customer portfolio), plus 8 percent compared to December 2022", reads the report.
In addition, BAI's quality and innovation was also recognized by independent entities, including the award for Best Bank in Angola awarded by the North American magazine Global Finance, as well as distinctions awarded within the scope of the IV edition of the Bodiva Awards.
"In the 1st quarter of 2023, BAI resumed its presence in brand activation events more effectively, establishing strategic partnerships from the beginning for greater awareness, both nationally and internationally, of which it stands out": the Bodiva Awards (where the bank, within the scope of the 4th edition of the Bodiva Awards, was distinguished with Honorable Mention as 1st Issuer on the Stock Exchange and Stock Market; technological development and innovation; greater number of custody accounts and issuer with the highest market capitalization) and Global Finance, with BAI being "distinguished for the third consecutive time as the Best Bank in Angola and leader of the national banking sector".
