Angolan government approves creation of Millennium Angola bank

23 February 2006

Luanda, Angola, 23 Feb – Angola’s government approved Wednesday the creation of the Millennium Angola bank, with shareholder capital of US$25 million, and which is entirely held by Portuguese bank Millennium BCP, officials said.

The approval of the new financial institution will allow the group led by Paulo Teixeira Pinto to launch a new phase in its presence in Angola, moving from a branch of the Portuguese bank to become an Angolan bank.

Currently, Millennium Angola has three branches in Luanda, but the bank’s expansion plan includes the opening of six new branches in the capital, as well as a further three in Benguela, Lobito and Cabinda. (macauhub)