According to a statement attributed to the CEO of Sol Bank, Coutinho Nobre Miguel, the Angolan bank has released USD 148 million in microcredit since the start of this year. Dr. Miguel stated that the bank intends to release USD 1 million monthly for loans to micro-, small and medium-sized businesses.
Sol Bank reported total assets of USD 1.3 billion, outstanding loans of USD 332 million, return on assets (ROA) of 2.1 percent, return on equity (ROE) of 30.4 percent, total deposits of USD 1.2 billion and 267,000 active clients as of December 31, 2010. More recent financial information on the firm is not available.
By Jaime Fellers, Research Associate
About Sol Bank:
Sol Bank, established in 2001, is a privately-owned bank based in Luanda, Angola that provides traditional financial services as well as microcredit. Sol Bank reported total assets of USD 1.3 billion, outstanding loans of USD 332 million, return on assets (ROA) of 2.1 percent, return on equity (ROE) of 30.4 percent, total deposits of USD 1.2 billion, and 267,000 active clients as of December 31, 2010. More recent financial information on the firm is not available.
Sources and Additional Resources:
[1] Angop: “Sol Bank Releases USD 148 million in Microcredit”, http://www.portalangop.co.ao/motix/en_us/noticias/economia/2012/6/30/Sol…
MicroCapital Article: “MICROCAPITAL BRIEF: Government of Angola to Invest $2b in Small and Medium-Sized Enterprises (SMEs)” by Amira Berrada, April 3, 2012, https://www.microcapital.org/microcapital-brief-government-of-angola-to-i…
MicroCapital Article: “MICROCAPITAL BRIEF: Banco Sol of Angola and Federation of Angolan Women Entrepreneurs Sign Agreement to Provide Access to Microfinance Services for Three Years”, by Lindsey Shaughnessy, September 6, 2010, https://www.microcapital.org/microcapital-brief-banco-sol-of-angola-and-f…
MicroCapital Universe Profile: Sol Bank (Banco Sol)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Banco+Sol
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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