17 April 2014

Angola: Sol Bank Assets Rise to 15 Percent

Luanda — The net assets of Sol bank rose to 15 percent in 2013, estimated at about 206 billion kwanza, reported on Tuesday in Luanda the director of accounting of the institution, Edson Costa.

According to Edson Costa, who was reading a press release ousted from the general assembly of shareholders, held on 11 April, the growth was on account of the volume of micro-credit and loans availed to the customers.

He said that the loan portfolio to clients rose to 47 percent if compared to 2012, set at nearly to 76 billion kwanza, while applications of bank liquidity on the interbank market increased to 9%, reaching 65.000 million Kwanza.

The source said that the customer's funds, deposits and other amounts in 2013 were 182 billion kwanza, representing an increase of 18 percent if compared to 2012.

The equity of Sol Bank rose to 21 percent if compared to 2012, reaching 14.5 billion Kwanza.

The net interest income increased to 40 percent, in comparison to 2012, reaching nine billion kwanza and income from financial intermediation increased to 31 percent, leaving 15 billion kwanza.

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