McKinsey consultancy to prepare strategic plan for Banco Espírito Santo Angola

6 August 2012

The board of Angolan bank Banco Espírito Santo Angola (BESA) has hired the McKinsey consultancy to put together the banks strategic plan until 2017, the chairman of Portugal’s Banco Espírito Santos (BES) said last week.

As he announced the results for the first half of the year, Ricardo Salgado noted that the profit of 49 million euros posted by the Angolan subsidiary had been responsible for two thirds of net profits in the international branch of BES.

Foreign business prevented BES from posting a loss in the first half of the year, as it lost 52 million euros in the Portuguese market, and thus the 78 million euros posted in foreign markets were decisive for the BES group to end the first half with profit of 25 million euros.

Salgado also announced that BES Angola would soon carry out a capital increase in order to fund the bank’s expansion in the West African country. (macauhub)