Banking industry in Angola - statistics & facts
Angola’s bank industry has flourished in recent decades. From 2012 to 2020, banking assets increased by over 185 percent, a rapid growth boosted by the country’s simultaneous economic development. In the years following the end of the civil war in 2002, Angola’s GDP recorded tremendous growth, driven largely by the oil industry. The cash flow originating from petroleum exports helped the impressive expansion of the financial sector. However, the banking market remains marked by concentration and limited financial inclusion.
