Standard Chartered Bank announces opening of Standard Chartered Angola

22 January 2014

UK bank Standard Chartered has announced the opening of a subsidiary in Angola, in a 60/40 partnership with Angolan insurance company Empresa Nacional de Seguros de Angola (ENSA), according to a statement published on the bank’s website.

“The subsidiary, which will be named Standard Chartered Bank Angola, S.A, will be the first major international bank with an onshore presence in Angola, an important development in the context of the increasing sophistication of the Angolan economy and particularly of its financial sector,” the statement said.

Standard Chartered also said that Miguel Miguel, an Angolan with 10 years’ experience in the oil industry in Angola had been chosen to be the chief executive of its Angolan subsidiary. (macauhub)