Banco BIC in Portugal posts profit in 2013

10 March 2014

Banco BIC in Portugal, which is majority-owned by Angolan shareholders, in 2013 posted a net profit of 2.5 million euros, the chairman of the board of the bank, Fernando Teles said Friday in Luanda.

Speaking to Angolan news agency Angop Teles said that the process of acquiring Banco Português de Negócios (BPN) was successful as, since it was bought from the Portuguese state in 2012, Banco BIC Português had doubled its deposits to 2.8 billion euros in December 2013 due to business deals between Angolan and Portuguese companies.

“Our process of acquiring BPN was successful, we have more branches in Portugal (212) than in Angola (208) and since we bought the bank we have doubled deposits,” he noted.

Despite the financial climate in Portugal remaining unfavourable, Teles said that Banco BIC Português was opening new branches and that this year it had plans to open between 10 and 20 new branches because the bank’s coverage is not ideal.

Teles also said that growth of the bank in Portugal had also allowed it to do more business in the Angolan market via BIC Angola because businesspeople who work with the bank in Portugal and have interests in both countries are now also working with the bank in Angola. (macauhub)