Lubango – The African Investment Bank (BAI) has USD 150 million for the concession of loans to its clients in 2009, in the central Huila Province, revealed on Friday in Lubango city (provincial capital), the institution’s executive officer, Luis Lélis. 

Speaking during the opening ceremony of two of the bank’s branches in Lubango, the source indicated that the credits will be used for economic, social and production purposes, with particular emphasis to industrial, agricultural and cattle breeding sectors.

Luís Lélis stressed that the financial institution has been registering satisfactory growth in terms of deposits and number of  ubscribers, which is allowing the bank to create favourable conditions to grant credits, particularly to province and to other parts of the country.

In view of this, added the director, the financial institution foresees the opening in 2009, of  new branches in Luanda, Soyo (Zaire), Caxito (Bengo) and Lobito (Benguela), aimed at expanding banking services and allowing the bank to become closer to its customers.  

At the moment, BAI has over 60 branches countrywide, 200,000 customers and 1,000 workers.