Profits of Cape Verde’s Banco Comercial do Atlantico rise 85 percent in 2006

18 April 2007

Praia, Cape Verde, 18 April – Banco Comercial do Atlantico (BCA), Cape Verde’s largest bank, controlled by Portuguese state bank Caixa Geral de Depósitos (CGD), said Tuesday that its profits had risen 85 percent in 2006, to 3.35 million euros.

Benefiting from growth in loans, the bank inverted the negative trend of 2005, when results fell by 3 percent, to 1.86 million euros, BCA’s annual report said, which was published in Praia Tuesday.

In 2006 BCA granted private property loans totaling 11.8 million euros, a 35 percent rise on the previous year.

The biggest increase was posted in loans to buy vehicles, or 73 percent, totaling 5.5 million euros.

In 2006, deposits rose 15 percent, to 443.5 million euros and assets totaled 498.8 million euros. (macauhub)