Banco Fomento Angola plans to open 100th branch in 2007

4 January 2007

Luanda, Angola, 04 Jan – Angolan bank, Banco Fomento de Angola (BFA) plans to have 100 branches by the end of 2007, or 24 more than its current 66 branches, a source at the bank told Angolan news agency Angop.

In 2006 BFA increased the speed at which it was expanding its network of branches and opened 23 new branches.

In 2006 the bank also opened seven Company Centers and Investment Centers to provide personal services to customers.

The banks 2006 expansion plan represented an investment of over US$40 million.

BFA, owned by Portuguese banking group BPI, has 1,200 workers and around 300,000 customers. (macauhub)