18 May 2024

Propelling to great heights

| The European |

Having achieved their highest profits ever in 2016, BANCO SOL has benefited from the positive trends to sweep the Angolan economy. In particular, they have experienced notable progress in their increasing financial activity since the currency exchange crisis further facilitating them to build and invest on the solid structure of their parent group, SOL Group.

Among the five largest Angolan banks, BANCO SOL is leading the banking industry in Angola with its innovative work in microcredit services. Between currency depreciation and shortages as well as the fluctuating value of the kwanza, the bank is keen to achieve results that can reassure not only its customers, but also its clients and shareholders. Being one of Africa’s fastest growing economies and an equally rapidly emerging middle-class supporting the country’s financial market, BANCO SOL is optimistically facing the future with high hopes of improving the nation’s socio-economic state.

As well as BANCO SOL, SOL Group consists of ‘IMOSOL, SA’, its real estate arm and the ‘FUNDAÇÃO SOL’ a charitable foundation dedicated to social, philanthropic and cultural issues. It also opened a travel agency called ‘SOL VIAGENS, SA’ and launched its private banking service, both in July of this year. Whilst further expanding by opening an insurance company, ‘SOL SEGUROS, SA’ in August.

Keen to grow on its international presence, the bank has been presented with two awards in London by The European; ‘Best Commercial Bank, Angola’ and its CEO Dr Coutinho Nobre Miguel as ‘Banking CEO of the Year, Angola’. On a recent visit to the Republic of Namibia, its delegation headed by Dr Miguel, was received at the highest level by the President of the Republic of Namibia, Hage Aingob as parts of plans to open a branch in Namibia.

BANCO SOL continues to implement a set of measures to strengthen internal control mechanisms, risk management and compliance, with the aim of making the institution strong, robust and resilient against any possible vulnerability or threat in the form of money laundering or financing of terrorism.

Dedicated to following through on SOL Group’s commitment to a sustainable approach to managing its assets and resources, BANCO SOL intends to distinguish itself as the market leading bank for all Angolans. Their motto of “when the sun rises, it rises for everyone” is something that resonates throughout the population, aiding the chance for growth and success as a whole nation.

Left to right; Gil Alves Benchimol, Carla Vandunem, Coutinho Nobre Miguel, Ana Teles Carreira, António da Graça

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