Portugal: Banco BIC Portugal to open branch in Porto this year

9 May 2008

Lisbon, Portugal, 9 May – Banco BIC Portugal plans to open a branch in the northern Portuguese city of Porto by the end of this year, and will then move on to opening branches in Leiria and Aveiro, the bank’s chief executive, Luís Mira Amaral said Thursday in Lisbon.

“We started out in Lisbon, we are going to open a business centre agency in Porto, but districts such as Aveiro and Leiria, which have great economic dynamism, should obviously be part of this first stage of expansion,” said Mira Amaral.

The bank launched Thursday with a team of 30 staff and a Board fo Directors headed up by Fernando Teles and also amde up of Luís Mira Amaral, the bank’s chief executive, Graziela Esteves, who is also a director of Banco BIC Angola, Carlos Traguelho, who was linked to the Spanish banking sector, and Jaime Pereira, who previously worked with the Deloitte consultancy.

The team, which includes staff from Angola will “soon” increase to around 40 people for its central services, in the areas of risk management, auditing, Sales and customer management, according to Mira Amaral.

The bank’s capital totals 17.5 million euros, although its shareholders have said they are open to increasing that amount if necessary.

In an initial phase, Banco BIC Portugal will focus on bilateral business between Angola and Portugal in three key areas: correspondent bank for Angolan banks, business banking and private banking for managing Angolan financial assets.

In relation to retail banking, BIC’s plan is to complement business banking and provide support for customers of Banco BIC Angola in Portugal. (macauhub)