Investment bank owned by Portugal’s CGD and Angola’s Sonangol to launch in second half of 2012

28 March 2012

An investment bank owned by Portuguese state banking group Caixa Geral de Depósitos (CGD) and Angola’s Sonangol is due to start operating in Angola the second half of this year, the Portuguese Finance Minister said in Luanda Tuesday.

Vítor Gaspar, who was speaking at a press conference to end his official two-day visit to Angola, said that a plan to launch the bank was underway at the Angolan National Bank.

The CGD/Sonangol investment bank was set up in March 2009 and the aim of the partnership is to support and fund larger projects in Angola, particularly in the large infrastructure sector. (macauhub)