10 October11:37 AM

Financial Results

BFA maintains its ranking as one of Angola's top-performing banks in H1 2023

During H1 2023, BFA's Net Profit increased by +23.5% YoY, totalling AOA 83 billion, notwithstanding the sharp exchange rate depreciation of the national currency against the US dollar. This positive financial performance was mainly driven by a strong growth in Operating Income (AOA +17.5 billion), as a result of a rise recorded in Net Financial Income and Non-Interest Income headings, which totalled AOA +116.4 billion and AOA +26.1 billion, respectively.

Return on Total Assets (ROA) recorded a mild change of -0.4 p.p. YoY, reaching 5.8%, which highlights BFA's strong capacity to generate earnings and profits, when compared to the average of 4.75% recorded for the Angolan financial sector (BNA financial data report, H1 2023).

Click here to view the full press release and financial results regarding H1 2023.