Ver Angola

Banking and Insurance

Standard Bank with the most attractive interest rate for term deposits in August

In August, Standard Bank Angola (SBA) was the bank that best paid for client deposits. That is, that month the SBA led the list of banks with the most attractive interest rate for time deposits with maturity of 90 days, by offering a payment rate for time deposits of 11.7 percent.

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According to figures from the National Bank of Angola (BNA) on interest rates of commercial banks, cited by Mercado, Banco Comercial do Huambo (BCH), with a rate of return of 11.4 percent and Banco BIC (8.8 percent) stand out.

On the opposite side of the coin were Banco Sol and Banco Valor (BVB) offering rates of 3 percent for a maturity of 90 days.

The figures show that in July, the bank with the most attractive interest rate was BCH (11.4 percent), when Standard Bank had a rate of around two percent.

All in all, in August the SBA had a growth of more than 400 percent, firming its rate to 11.7 percent.

In July, according to figures cited by Mercado, Banco Angolano de Investimentos (BAI) had a rate of 7 percent, with no changes in August, and was seven percent below the SBA, BCH, BFA, Banco BIC, BNI and BE.

In the overall calculation, Standard Chartered Bank Angola (SCBA) and Banco da China Limitada (BOCLB) showed no records, and Banco de Desenvolvimento de Angola (BDA) and Banco Kwanza Invest (BKI) were left off the list, as there are no analysis indicators for them.