Shareholders of Angolan bank Banco Sol de Angola increases capital to US$51 million

28 April 2014

The shareholders if Angolan bank Banco Sol approved a capital increase from 1.4 billion kwanzas (US$14.3 million) to 5 billion kwanzas (US$51 million), said the bank’s director for marketing and communications.

Mónica Aleixo said that the shareholders’ meeting approved a proposal to increase the bank’s capital in order to increase its liquidity in line with requests made by the National Bank of Angola.

In 2013, Banco Sol opened 21 new branches, increasing its total to 119 across Angola, according to Angolan weekly newspaper Expansão.

“In order to respond to our customer’s needs, whether they are private, corporate or large investors, the shareholders’ meeting decided to continue with the expansion of its network of branches in the country,” Aleixo said. (macauhub/AO)