Banco Angolano de Investimentos (formerly Banco Africano de Investimentos), short BAI, was founded in 1996 as the first private bank in Angola. The BAI is a full-service bank operating in Angola with a nationwide network of (mid-2012) 89 branches in all 18 provinces, with 41 of those branches in Luanda Province. In 9 of the 18 provinces, BAI operates only one branch office.