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ATLANTICO
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Financial Information
Despite the major challenges of a changing and contracting economy, the Bank closed 2019 with a net income of AOA 30.5 billion, a 12% increase when compared to 2018, however below the forecast.
Key indicators
30.5
AOA billion
+12%
Net income
23%
-8.8 p.p.
Return on equity
2.1%
+0.03 p.p.
Return on assets
14.5%
-1.2 p.p.
Capital adequacy ratio
111
AOA billion
+5%
Operating income
40
AOA billion
-8.2%
Operating costs
47%
-2 p.p.
Cost-to-income (recurring)
1,601
AOA billion
+17.9%
Net assets
1,235
AOA billion
+18.4%
Deposits from Customers
443
AOA billion
+2.8%
Net loans
15.7%
-1.2 p.p.
Credit at risk ratio
130%
+29 p.p.
Credit at risk coverage ratio
Business performance
The Bank closed 2019 with net results in the amount of AOA 30.5 billion, representing a 12% growth compared to the previous period, however below the forecast.
The level of impairments was significantly reinforced by an approximate amount of AOA 31 billion increasing its credit-at-risk coverage ratio to 130%.
In December, Capital adequacy ratio stood at 14.5%, reflecting a -1.2 p.p. decrease compared to the same period. Therefore, ATLANTICO continues to present solid ratios and availability of capital to support business growth and risks of Bank activity.
The Cost-to-income ratio reached 39%, representing a deviation of -3 p.p. against the previous year. If we exclude non-recurring events that occurred at the level of revenue, cost-to-income ratio reaches 47%, with a favorable evolution of 2 p.p. compared the previous period. The improvement of efficiency levels is one of the Bank’s fundamental focuses, defining strict objectives for each business cycle.
