Angola’s Banco Totta changes its name

27 April 2010

Luanda, Angola, 27 April – Angolan bank, Banco Totta Monday changed its name to Banco Caixa Geral Totta de Angola following a change in its shareholder structure, the chairman of the bank’s executive commission said in Luanda.

Chambel said that the new brand aimed to drive the culture and strongest attributes of the banks involved, specifically Banco Santander Totta and Caixa Geral de Depósitos.

According to Chambel, the bank this year plans to expand its retail network as well as investing in staff training to ensure the technical skills needed for the operability and sale of products aimed at the Angolan market.

The bank, which has been in the Angolan market since 2003, has 11 branched in the country, seven of which in Luanda.

Under the terms of an agreement signed in 2008, oil company Sonangol and Angolan businesspeople Jaime Freitas and António Mosquito own 49 percent of the bank with the remaining 51 percent in the hands of Santander Totta and Caixa Geral de Depósitos, which manages the bank. (macauhub)