BES Cabo Verde bank becomes Banco Internacional de Cabo Verde

10 November 2014

Banco Espírito Santo/Cabo Verde (BES/CV) has changed its name to Banco Internacional de Cabo Verde (BICV), the chairman of the bank said in Praia noting that Novo Banco (NB) of Portugal will continue to be the bank’s only shareholder.

Peter Cudell also told Portuguese news agency Lusa that the new name was not in line with the initial wishes of BES/CV, as there is already a micro credit bank in Cape Verde (Cabo Verde) called Novo Banco.

Giving assurances that BES/CV has not suffered “any impact” from the situation of Portugal’s BES the chairman of BICV said that, overall, and throughout the entire process, his bank in Cabo Verde “even increased” its number of customers.

BES has been in Cabo Verde since 2006, through a financial subsidiary, but opened a Cape Verdean registered bank, BES/CV in July 2010 with starting capital of 13 million euros, thus joining the process internationalization of the financial sector in Cabo Verde within West Africa.

BICV, similarly to BES/CV, is a locally registered bank, based in Praia, focused on economic development, the internationalization of Portuguese companies and the promotion of partnerships with Cape Verdean companies. (macauhub/CV/ PT)