In the shifting financial landscape of sub-Saharan Africa, Banco Angolano de Investimentos (BAI) has emerged as a benchmark for sustainable growth, institutional strength, and strategic foresight.
Founded in 1996, BAI has grown into Angola’s largest commercial bank, driven by disciplined financial management, robust governance, and consistent market performance — particularly under its current leadership, elected in 2021.
BAI has steadily expanded its presence within Angola and internationally, with operations in Cape Verde and Portugal. As of 2024, the bank continues to lead across key financial and operational indicators.
According to its most recent financial statements, BAI reported a net profit of Kz 199.5 billion (USD 299 million, based on an exchange rate of 666.217) in 2023 — nearly double the previous year’s earnings.
In 2024, profit moderated to Kz 151 billion (USD 226 million, at an exchange rate of 870.834), reflecting broader economic tightening.
Despite the dip, the bank maintained a healthy 45% dividend payout, reinforcing its commitment to shareholder returns and prudent capital management.
Between 2022 and 2025, BAI’s stock surged 220%, reflecting strong investor confidence — a rare feat in frontier markets.
This momentum was further bolstered by a 41% increase in its net credit portfolio in 2024, which reached Kz 1.75 billion (USD 2 billion). Customer deposits also grew by 3.4%, reaching Kz 2.045 billion (USD 2.3 billion).
The bank’s active liquid assets rose sharply to Kz 5.477 trillion (USD 6.2 billion) in 2024, up from Kz 3.658 trillion in 2022 — a 49.7% increase that demonstrates its strong liquidity management.
Key profitability metrics remained robust. In 2024, BAI posted a Return on Average Equity (ROAE) of 20.9% and a Return on Average Assets (ROAA) of 3.2%, aligning with or exceeding emerging market benchmarks.
BAI continues to lead Angola’s digital banking transformation and financial inclusion agenda. Since 2022, the bank’s active customer base has grown 28% to 2.54 million.
Its digital platform, BAI Directo, recorded 36% growth, reaching 912,020 active users. Card issuance rose by 27%, with 1.7 million debit cards in circulation. The bank’s ATM network expanded at a similar pace.
BAI has been a leading financier of national development initiatives, in line with Angola’s Directives 10/2023 and 10/2024.
In recognition of its contributions, the bank received a Certificate of Merit from the Minister of State for Economic Coordination in March 2025 — a signal of the government’s confidence in BAI as a strategic development partner.
Under the chairmanship of Luís Filipe Rodrigues Lélis — elected in 2021 but involved with the bank since 2004 — BAI has maintained a trajectory of sound governance and operational efficiency.
The 2024 cost-to-income ratio stood at 52.8%, up slightly from the previous year, reflecting strategic investments aimed at securing long-term competitiveness.
Lélis’ deep institutional knowledge and steady leadership have proven vital in navigating macroeconomic volatility and regulatory change — offering continuity in a complex operating environment.
As BAI approaches its third decade, its agility, profitability, and alignment with national priorities position it not just as a dominant financial institution in Angola, but as a resilient and forward-looking player in the broader sub-Saharan African banking sector.
In a region where institutional strength is often scarce, BAI’s stability remains one of its most valuable assets.
