South Africa’s Standard Bank opens first branch in Angola

6 February 2012

Luanda, Angola, 6 Feb – The first branch of South Africa’s Standard Bank in Angola opened Friday, in Talatona, Luanda, with a ceremony attended by a number of officials from banks operating in Angola, Angolan news agency Angop reported.

The Standard Bank, which will mainly focus on corporate banking, intends to become a bank providing a quality service in Angola and is currently carrying out investments in the country.

The director of Private and Corporate Banking for the Standard Bank, Carlos Pinheiro, said that the bank had been in Angola since 2005 when it opened an office there and that in 20009 it was granted a license to operate as a global bank.

As well as the branch tat ahs now been opened, he said, the bank also has two other branches in Luanda that would be opened over the next few days.

The Standard Bank plans to open between 15 and 20 branches in several Angolan provinces by the end of the year. (macauhub)