Profit at BES Angola bank rises 86 pct in 2009

16 March 2010

Lisbon, Portugal, 16 March – Net profit at Banco Espírito (BES) Angola rose to 152 million euros in 2009, a year on year rise of 86 percent, the chairman of the bank Álvaro Sobrinho said Monday.

“At 31 December 2009, net assets totalled 4.5 billion euros, or a rise of 29 percent as compared to the previous year,” noted Sobrinho adding that “attracting client resources totalled around 1.8 billion euros (a 4 percent rise) and the credit portfolio reached some 1.7 billion euros (a rise of 44 percent).

BES Angola is 51.94 percent owned by BES, 24 percent owned by Portmill, Investimentos e Telecomunicações, an Angolan institutional investor, 20 percent by other Angolan investors and 5 percent by the bank’s management team.

As well as last year’s accounts BES Angola also presented its strategy for 2010, which will include “creating subsidiaries in the area of financial stakeholdings.”

BESaActif, the African bank’s management company, already offers two funds, BESA Património – Fundo de Investimentos Imobiliário (Real Estate) and BESA Opções – Fundo de Pensões (Pension Fund).

Currently awaiting a license are a share trading company, a leasing company and an Angolan investment bank, and the bank said that, “opening up of new business areas marks BES Angola’s affirmation as the first large Angolan financial group.” (macauhub)