Banco Nacional de Guinea Equatorial (BANGE) began operations in 2006 and has developed a broad suite of cutting-edge products and services. Now among the leaders in West Africa, it continues to deliver supreme value to its diverse customer base and sustainable returns to its shareholders.

BANGE currently has the largest network of branches in the country and has become an integral part of Equatorial Guinea’s financial infrastructure. Above all, the bank is proud to contribute to the development and progress of the nation.

Strategic advances in 2018

The strength of BANGE’s business model has been reflected by a series of accomplishments in 2018. During this period, BANGE has maintained good liquidity levels and improved the regulatory ratios imposed by the Banking Commission of Central Africa (COBAC) – the banking regulator of the Economic and Monetary Community of Central Africa (CEMAC). Importantly, all forecasts indicate that BANGE will continue to generate strong returns for its shareholders.

In 2018 BANGE revised its strategic plan. This has allowed it to adopt clear lines of action to achieve its goal: to become a bank of reference throughout the regions it operates. The bank is continuing to complete its national expansion plan, while also advancing its global expansion. At the same time, BANGE is now fully integrated into the CEMAC payment system (GIMAC). An adhesion contract has been signed with UnionPay and implementation is imminent, and significant resources have been invested into Mastercard, and Visa Payment System links. The implementation is in process. In regards to BANGE’s commercial strategy, the bank continued to diversify its products and services throughout 2018. BANGE’s Rural Credit is designed to finance the primary sector and has been consolidated. A new microfinance section has been created that caters to customers profile without access to traditional banking services. BANGE has evolved its commercial model, through the “Plan Impulso”, which, with the implementation of its “Agenda Comercial” plans to bring uniformity to all commercial actions and optimise the branch network.

Manuel Osa Nsue Nsua, General Director of BANGE

Reflecting on a strong 2018, General Director of BANGE Manuel Osa Nsue Nsua said: “The central element of the strategy of Banco Nacional de Guinea Ecuatorial is to add value for the customer, in order to improve its relationship with the bank and, therefore, increase revenue”. This strategy represents a fundamental shift from the past: what the bank is now pursuing is for more customers to choose BANGE as their main bank. Good products, good services, and high added value are the key to attracting customers. As of 2018, the number of people who considered BANGE their main bank increased from 12,000, to 65,000 customers. This has led to a considerable increase in fee income from products and services and added value. An investment in technology has allowed BANGE to improve its customer service while improving efficiency. In fact, the ratio of costs to revenues remains among the best in the sector.

Growth opportunities for 2019

BANGE’s strategic vision and business model have provided a solid foundation during a period of global economic challenges. In 2019 BANGE is aiming to consolidate and progress in the following areas:

• The bank’s customer base of more than 100,000, its extensive network of branches throughout the country will facilitate continued sustainable growth and profit.
• BANGE’s International Expansion Plan will lessen volatility, while allowing the bank to consolidate its presence in other markets.
• One of BANGE’s growth drivers will be its accession to the GIMAC payment system. This will mean BANGE customers will have access to an extensive network of ATMs, covering a range of products and services. Point-of-Sale (POS) Terminals are also being commercialised.
• A further growth driver in 2019 will be the Mobilmoney service, which BANGE is launching imminently. Mobilmoney will provide customers with an exclusive mobile banking experience, promoting the concept of banking “anywhere and anytime”.
• Another key focus is the creation of an investment portfolio focused on different types of investments.

Mr Osa Nsue Nsua adds: “BANGE is very well positioned to support growth in all the communities where it operates. From the more than 100,000 customers of the bank and their families to the employees of all the companies that provide us with services. Every decision we make to help this inclusive and sustainable growth has a powerful multiplier effect that allows us to improve the lives of thousands of people. It is the strength of our business model. “We have a unique opportunity to grow through the segments where we have a comparative advantage. To seize this opportunity, we will continue investing in our employees and in a better use of technology, while working to improve efficiency and customer experience.”

Further information
www.bannge.com