Angola: Angolan bank wants to double credit in 2008

23 January 2008

Luanda, Angola, 23 Jan – Angolan bank, Banco Internacional de Crédito (BIC) in 2008 aims to see growth in deposits of 85 percent and 100 percent in credit, the bank’s chairman, Fernando Teles said Tuesday in Luanda.

Speaking to Angolan news agency Angop about the 1st meeting of the bank’s staff, held Monday in Luanda, Teles said that, in December 2007, BIC’s deposits totaled US$2.114 billion, whilst credit used was US$1.343 billion and approved loans of US$1.7 billion.

At the end of 2007 the bank had 85 branches and by December of this year plans to open a further 30 branches all over the country.

With 240,000 customers in December 2007, BIC plans to attract a further 120,000 customers by the end of the year, with “room to maneuver to reach this target,” as Angola’s banking rate is very low, at around 7 to 8 percent of the population.

At Monday’s meeting, the bank’s staff analyzed, amongst other things, the activities carried out in 2007, the operation of its branches throughout the year, the budget of each branch and the definition of targets for deposits and credit.

On 11 January BIC opened an majority Angolan-owned bank in Portugal.

The majority shareholders of BIC Portugal are Portuguese businessman Américo Amorim, with 25 percent, and Sociedade de Participações Financeiras (de Angola), with a further 25 percent.

Fernando Teles, the chairman of BIC, will have a 20 percent share in BIC Portugal, which will also have Brazil’s José Ruas as a shareholder with 10 percent.

The remaining capital will be split between several Angolan shareholders, each with a 5 percent stake. (macauhub)