Angolan bank Banco Sol plans to expand to Namibia and Mozambique

7 October 2013

Angolan bank Banco Sol plans to begin its internationalisation by opening branches in other Southern African Development Community (SADC) nations, said the bank’s chairman in Luanda.

At a conference to celebrate the bank’s 12th anniversary, Coutinho Nobre Miguel said that Namibia and Mozambique would be the first countries the bank would move into, according to Angolan state newspaper Jornal de Angola.

Banco Sol in the next few months will also continue to diversify it products and services, offering innovative and advanced financial solutions to invest in development of technological facilities.

In 2012 the bank posted a net profit of 30 billion kwanzas (US$307 million), had assets of 160 billion kwanzas and 132 branches across Angola’s 18 provinces. (macauhub)