Banco Caixa Geral Angola plans to support internationalisation of Angolan companies

11 December 2015

Support for the internationalisation of companies in Angola is one of the focuses of Banco Caixa Geral Angola, said Thursday in Luanda the chairman of the executive committee of the bank that lost the name Totta after the departure of Spanish banking group Santander.

Marques Pereira said it was important to support the internationalisation of Angolan companies and help other companies to invest in Angola, taking advantage of the international network of which the Caixa Geral de Depósitos (CGD) group is a part as well as the international network of some of the shareholders, particularly oil company Sonangol.

Banco Santander Totta and Santotta – Internacional SGPS announced on 8 July the sale of their 49 percent stake in the capital of Partang SGPS to Caixa Geral de Depósitos, with the CGD Group now holding the entire share capital of that company and through it 51 percent of the share capital of what is now called Banco Caixa Geral Angola.

Besides the Partang holding (51 percent), the shareholder structure of the bank, which has been operating in Angola since 2009, is owned by Angolan state oil company Sonangol (25 percent) and entrepreneurs Jaime Freitas (12 percent) and António Mosquito (12 percent).

In 2014 the bank recorded net profit of 9.1 billion kwanzas (61.4 million euros), the fourth best performance within the Angolan financial system last year. (macauhub/AO/PT)