Portuguese bank Banco de Investimento Global (BIG) plans to start operating in Mozambique, which will be its first market outside Portugal, according to a report in Mozambican newspaper Correio da Manhã.
The newspaper cited sources saying that the banking license had already been issued by the Bank of Mozambique although the decision had yet to be made public.
Correio da Manhã said that the Mozambican central bank had restricted issuing new banking licenses as it considered the market to be saturated.
Banco de Investimento Global is an unlisted specialist bank based in Lisbon and authorised to operate in all business areas open to the banking sector in Portugal. (macauhub)