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The impact of dedollarization in the Angolan Banking sector: Banco de Fomento de Angola case study
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It is the scope of this project to analyse how the past and current economic conjuncture in Angola, mainly driven and characterized by the Dedollarization process that is undergoing, has been impacting the Angolan Baking Sector, one of the biggest pillars of the Angolan economic activity.
Given the known data constraints, this project only focused on the analysis of the Dedollarization impact in one of Angola’s biggest banks: Banco de Fomento de Angola.
The statistical approach consisted on two multi-factor regression models to analyse the impact on two different Key Performance Indicators of the bank: Return on Equity and Regulated Solvency Ratio.
Although it was complicated to derive statistical significance for the two models, mainly due to a reduced number of observations and the quality of the model, the results converged to what a financial economics analysis led later on the final part of the project.
The final remarks regarding the role of Dedollarization in the Banking sector, with a focus on BFA, are extremely eye-opening. Unlike what was thought à priori, the overall impact on BFA’s results is positive, mainly in the back of the high inflation environment that is being felt in Angola, which increases the spread of the assets’ returns in national currency versus in foreign currency on the bank’s balance sheet.