Standard Bank Angola partners Angola’s AAA Activos

25 July 2012

Standard Bank Angola has entered into a strategic partnership with Angolan company AAA Activos as part of a capital increase from US$50 million to US$100 million recently approved by the National Bank of Angola, the Standard Bank Group said in a statement Tuesday.

The new shareholder structure of Standard Bank Angola, which at the end of June had US$456 million in assets, is now made up of the Standard Bank Group with 51 percent and by AAA Activos with 49 percent.

“Collaboration between AAA Activos and Standard Bank Angola will make it possible to consolidate the bank’s profile as a leader in the Angolan market and support Standard Bank Angola in its expansion,” said the Chief executive of Standard Bank Angola, Pedro Pinto Coelho.

AAA Activos is an Angolan company specialised in insurance and fund management with 22 branches across the country, and it started operating as a risk management consultancy and the co-insurance market for Angola’s oil sector.

Standard Bank Angola focuses on providing complete banking solutions for large public and private projects and currently has 100 business customers and 3,000 private customers. (macauhub)