Portuguese bank BPI provides US$150 million credit line for exports to Angola

4 April 2006

Lisbon, Portugal, 04 April – Portuguese bank BPI, which controls Banco de Fomento Angola (BFA) announced that it is going to open up a credit line for exports to companies that are already customers in the Angolan market, to the value of US$150 million.

According to a statement from BPI, BFA will take on the risk of the importer and BPI will provide up to 100 percent of the value of exports, if certain conditions are met.

The first condition is that the exporting company must be a BPI customer in Portugal and the Angolan importer a customer of BFA.

The financial support, the bank said, will only be offered for consumer goods exported and the loan period will be identical to the credit approved for the importer by BFA, up to a limit of 24 months.

BFA is currently vying for leadership of the Angolan banking market with state bank Banco de Poupança e Crédito. (macauhub)