Dear Stakeholders,

The start of the Covid-19 vaccination process in March 2021 has renewed optimism on the possible end of the health crisis, which could lead to accelerated economic recovery. However, the outbreak of new waves of infection in several countries, coupled with the discovery of new strains of the virus with a higher transmission rate and more aggressive, put health systems back under pressure and economic activity was not immune to its effects.

Nevertheless, 2021 was marked by the recovery of the world economy, both in developed economies and in emerging and developing ones, with global GDP recording a growth of more than 5%, according to the IMF, recovering from the recession recorded in 2020. The fiscal and monetary incentives adopted by the governments and central banks of several countries, and the reduction of restrictions on the movement of people and goods, as a result of the strategy of vaccination against the Covid-19 virus, contributed to the reversal of the context of recession recorded in 2020.

With regard to the financial markets, the consolidation of the exchange rate regime adopted in 2020 and the greater diversity of suppliers, especially the oil sector and the National Treasury, should be highlighted. The dynamics of supply and demand resulted in a 17.05% appreciation of the Kwanza against the USD. The capital market showed resilience, despite the reduction in trading volume of public debt on the secondary market compared to the same period in the previous year, maintaining an annual turnover of more than AOA 900 billion. Also noteworthy was the first privatisation by auction on the stock exchange, as part of the privatisation programme set out by the Government for the period of 2019 to 2022 (PROPRIV), and the announcement of the first operations to go public in 2022, notably in the banking sector, which should be the first to have operators listed on the Angolan stock exchange.

The commitment to People is one of ATLANTICO’s fundamental principles. In this first year of implementation of PHIT 2.4, in line with our ambition to be the best bank to work for, we highlight as an important milestone of this journey the retention of 100% of Talents with high potential. We believe that focusing on our Talent is one of the fundamental principles for us to also be the best bank for our Customers, and in this regard we should highlight the increase to 900 thousand active Customers and the decrease in the number of complaints to 0.5 per thousand Customers. In addition to the repercussions on the development of our Talent and the satisfaction of our Customers, we also value the impact caused on more than 9,000 lives through social transformation projects promoted within the ATLANTICO ecosystem by 2021.

In line with our ambition to continue to lead digital transformation in Angola, it should be noted that 32% of our active Customer portfolio uses the digital channels we make available to them and, in 2021, more than 100,000 accounts were opened through mobile platforms. Additionally, 62% of the core processes of our banking activity are already digitalised, thus providing a better experience to our Customers in a more efficient manner.

The investment in the process of transforming our business model, seeking its industrialisation, has been one of ATLANTICO’s strategic priorities since the merger. In 2021, we would like to highlight the expansion of our service point network to more than 2,500 nationwide, driven by a network of around 2,300 banking agent points of sale. This expansion complements a network of bank branches featuring ATLANTICO 24-hour spaces equipped with ATMs and cash deposit machines, which allow us to serve our Customers with the desired capillarity, in self-banking and in high availability.

The investment processes in the strategic transformation of our business model, and also in the strengthening of our balance sheet, which has been underway in recent years in order to make it more liquid, profitable and increasingly suited to the growing demands of a regulatory framework in the process of supervisory equivalence, impacted the net profit for the period of 2021, which amounted to AOA 3.4 billion.

This process of transversal transformation, which has been taking place over the last few years, allows us to focus today on creating the necessary conditions for ATLANTICO to be listed on the stock exchange during 2022. We are today a solid Bank, with the significant strengthening of the Solvency Ratio to 20.5%; more productive, with regard to core banking operations; and more efficient, with our operating costs representing only 3.3% of total assets, as a result of a set of efficiency measures that have been implemented since the merger, taking advantage of the synergies allowed by the merger, and also reinforced by the Bank’s strategic transformation process.