Angola: Banco BIC wants to expand to DR of Congo and Namibia

2 December 2008

Luanda, Angola, 2 Dec – Chairman of Angolan bank, Banco Internacional de Crédito (BIC, Fernando Teles said in Luanda that the bank was preparing to operate in the markets of Namibia and the Democratic Republic of Congo after it recently set up in Portugal.

“It is our intention to move ahead in those markets and we are preparing to invest in others. We are only not doing so now because we planned to give priority yo Angola where almost everything has yet to be done,” said Teles cited by newspaper Jornal de Angola.

The chairman of Banco BIC, the third biggest bank in Angola, said that, “the bank is in contact with the authorities of the respective countries and the respective central banks.”

With over 100 branches in Angola, throughout the year BIC saw deposits of over US$3.5 billion, whilst in terms of approved loans it totalled US$2.5 billion.

The bank started operating in Angola in May 2005 and now has branches in all of the country’s 18 provinces.

Around 50 percent of the bank’s branches are in Luanda. (macauhub)