Angolan-owned bank BPA Europa starts operating in Portugal

18 August 2009

Lisbon, Portugal, 18 Aug – Angolan-owned bank, Banco Privado Atlântico – Europa (BPAE), owned by Banco Privado Atlântico (BPA), began operating in Portugal on Monday, in the investment banking sector.

According to a statement from the bank, the BPAE’s mission is to support investment projects based on shared stakes between Angolan and Portuguese business owners, which will generate value for both economies.

The BPAE aims to strengthen and develop business between Angola, Portugal, the United States, Europe, China and Brazil, helping and advising Angolan and Portuguese businesspeople on their investments, particularly in the energy, environmental and infrastructure sectors.

The BPAE has starting capital of 18 million euros and is owned by BPA Angola, Sonangol, asset management company Global Pactum and by members of the bank’s board.

BPA began operating in Angola in 2006, has 10 business centres and plans to end 2009 with a total of 15. (macauhub)