Banco Espírito Santo Angola opens new Luanda headquarters

7 August 2006

Luanda, Angola, 07 Aug – The Banco Espírito Santo Angola (BESA), held by the Portuguese institution of the same name, opened its new Luanda headquarters on Friday, the bank’s director told journalists.

The headquarters comprises two buildings built from scratch, one in colonial style to house the administrative section and the other a modern nine-floor building to be used for operations. The complex, located in downtown Luanda, was budgeted at US$25 million.

BESA director Álvaro Sobrinho said the new facilities would ensure that the Banco Espírito Santo Angola “is ready to better face the challenges imposed by the Angolan market.”

“Regarding the computer area it is nowadays possible to carry out all the work we were previously unable to do and we now have the vital logistical support needed to achieve the bank’s goals,” he added.

BESA has net assets on the order of US$463 million and has granted credits worth US$112 million. It has a deposit portfolio worth US$201 million and a market share of 10 percent. (macauhub)