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Profits of Angolan bank BAI rise 40% in year’s first half

Net profits for Banco Angolano de Investimentos (BAI) rose 41% in the first half to AOA 40 billion (US$91 billion), versus the same period of the previous year, according to the financial institution's accounts report.

The results were influenced by a growth of 15% in net interest income and a 92% reduction in impairment costs, indicates the report, which will be presented today at a press conference.

Besides the Angolan financial sector, BAI has holdings in . . .

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