New name of Banco Caixa Geral Totta Angola known in 2016

23 September 2015

Banco Caixa Geral Totta Angola is set to have a new name and image in the first quarter of 2016 due to Spanish group Santander withdrawing from the bank’s shareholder structure, said Tuesday in Luanda the chairman of the bank’s executive committee.

Fernando Marques Pereira, on the sidelines of the presentation of the 10th edition of the “Banking under Analysis” report by the Deloitte Angola consultancy, said talks with all shareholders for choosing a name for the commercial bank and for the brand were ongoing, adding “in the first quarter of 2016 this information will be announced.”

Banco Santander Totta and Santotta – Internacional SGPS announced on 8 July the sale of its 49 percent stake in Partang SGPS to Caixa Geral de Depósitos (CGD), an the Portuguese state bank now owns the entire share capital of the company.

With this operation, the Portuguese public bank “now holds 100 percent of the share capital of Partang SGPS, which in turn holds a 51 percent stake in Banco Caixa Geral Totta de Angola.”

As well as Partang SGPS (51 ercent), the shareholder structure of the bank also includes Angolan state oil company Sociedade Nacional de Combustíveis de Angola (Sonangol with 25 percent) and entrepreneurs Jaime Freitas and António Mosquito, each with 12 percent.

In the study presented by Deloitte Angola, Caixa Totta comes in fourth place in terms of profits in the list of Angolan banks, in 2014 achieving its best result ever of 9.1 billion kwanzas. (macauhub/AO/PT)