Finibanco Angola to change its branding

21 February 2013

The process of changing the branding of the Finibanco Angola bank has begun and is intended to bring it closer to the values of the Montepio bank although the brand will remain in Angola, said António Tomás Correia, chairman of Portuguese group Montepio.

“The values of equality, responsibility and solidarity are interpreted within the specific logic of the Angolan market, driving home values of social wellbeing along with the professional ethics of a financial institution,” Tomás Correia told Portuguese news agency Lusa.

He also noted that, “acquisition of Finibanco Angola is part of Montepio’s strategic plan which, amongst other things, intends to diversify its income by driving international business within a growing economy.”

Montepio controls a majority of the Angolan bank following the acquisition of Finibanco in the summer of 2010 and, according to Correia, the project “is going to plan.”

The chairman of the Montepio group noted that “the Angolan economy shows real potential for growth in terms of providing the populations with access to banks, as well as being one of the main markets for Portuguese companies, which boosts its status as a relevant market in terms of prospects for growth of banking.”

Finibanco Angola was founded in 2007, with Finibanco-Holding SGPS with a stake of 60 percent and the remaining 40 percent in the hands f Angolan shareholders. (macauhub)