The Banco Nacional de Angola’s report on the “Ranking of Complaints in the Angolan Financial System for the Fourth Quarter of 2024” indicates an improvement over the months of October, November, and December 2024 compared to the previous quarter, with a decrease of 11.31% in registered complaints.
The bank attributes the increase in complaints compared to the same period last year to a greater awareness among financial institution customers, as well as an “exponential rise in complaints regarding debit cards, caused by communication constraints experienced by some banks with the services provided by Empresa Interbancária de Serviços (Emis) from June to October 2024.”
During the reported period, complaints targeted nine products/services, namely debit cards, service provision, checking accounts, ATMs/points of sale, mobile banking transfers, consumer credit, and credit card products, which together accounted for 94.05% of all grievances.
In the ranking of financial institutions for the last three months of 2024, the Banco de Fomento de Angola (BFA), a systemically important bank with over a million customers, topped the list with 2,817 complaints regarding debit cards, ATMs/points of sale, and checking accounts.
The Banco Angolano de Investimentos (BAI) was second with 926 complaints (checking accounts, prepaid cards, and consumer credit), followed by the Banco de Poupança e Crédito (BPC) with 848 complaints (ATMs/points of sale, checking accounts, and consumer credit), and Banco BIC, with 570 complaints (ATMs/points of sale, overdrafts, and checking accounts).
Other significant banks with high complaint numbers include Banco Millennium Atlântico, with 451 complaints (service provision, checking accounts, and ATMs/points of sale), and Banco Sol, with 378 complaints (checking accounts, debit cards, and consumer credit).
Non-systemic financial institutions averaged 213.1 complaints per every 50,000 clients in the fourth quarter of 2024.
