The financial margin of BFA, held 51.9 percent by state telecommunications operator Unitel and 48.1 percent by Portugal's BPI, grew 17.8 percent, reaching 293.6 billion kwanzas.
Foreign exchange results, with less weight, however saw an exponential increase of 228.1 percent, to 43.3 billion kwanzas, the bank said in its annual results presentation.
BFA's banking product increased by 25.5 percent and reached 375.23 billion kwanzas.
Customer resources (deposits) grew 5.6 percent in 2024 and credit net of impairments increased 32.3 percent, with the bank highlighting growth in national currency (+24.5 percent) “which allowed it to overcome the negative exchange rate impact”, it says in a statement.
The president of the BFA Executive Committee, Luís Gonçalves, quoted in the statement, highlighted that, in 2024, the bank prioritized “a set of strategic initiatives, with a view to promoting an increase in the capillarity of the services provided”.
As of December 31, 2024, the bank had a total of 194 branches, comprising branches, business centers, investment centers and Private Banking, and reached a total of 42,529 registered automatic payment terminals (TPAs), representing a growth of 2.6 percent compared to the same period last year.
Last year, BFA recorded growth in the number of customers compared to 2023, which resulted in a total of 3,199,554 customers at the end of the year.
This Monday, the Portuguese Investment Bank (BPI) also announced that the partial sale on the stock exchange of the Banco de Fomento de Angola (BFA) will take place in July.
"The IPO [BFA stock exchange sale] process is going very well. We believe that the IPO will take place in the summer", said BPI chairman João Pedro Oliveira e Costa in July, at the press conference to present the first quarter accounts (profits of 137 million euros), in Lisbon.
BPI, he said, estimates that it will raise more than 95 million euros from the sale of 14.75 percent of the Angolan bank.
"At the moment, we cannot talk about interested parties, there is not even a final value, we are finalizing the last details in this aspect and the 'road show' [contacts with investors] has not yet started", he said.
