Angola: BAI bank to open branch in Cape Verde

31 December 2007

Luanda, Angola, 31 Dec – Banco Africano de Investimentos (BAI) will open a Cape Verde branch in the first quarter of 2008, the chairman of its management commission said at the weekend.

Speaking at a Luanda ceremony to list BAI on the soon-to-open Luanda stock exchange, José de Lima Massano said the bank has already been licensed to open in Cape Verde.

In relation to BAI Europa, operating in Lisbon since 1998, Massano said the bank would continue to reinforce its position in Portugal’s banking sector. BAI Europa expects to have cash assets of 500 million euros at the close of 2007, he added.

The bank also plans to open a branch in Portugal’s second city, Porto, during the coming year, Massano said. (macauhub)