Portugal’s Banco BIG bank opens subsidiary in Mozambique

15 March 2016

Portuguese bank Banco de Investimento Global (BIG) this month plans to open a subsidiary in Mozambique, the bank said in a statement issued Monday in Lisbon.

The bank was founded in 1999 and its main shareholders are António da Silva Rodrigues, of the Simoldes group, with 12.39 percent of the capital, followed by stake management company Adger, with 10.96 percent, Carlos Rodrigues, chairman and founder of the bank, with 9.94 percent, and World Wide Capital (WWC), owned by Angolan general Hélder Vieira Dias “Kopelipa” with 9.93 percent.

The bank’s chairman, Carlos Rodrigues, considered that the bank’s results – a net profit of 74.5 million euros, 9.7 percent less compared to the 82.5 million euros recorded in 2014 – were “solid again in 2015,” having been “generated entirely in Portugal.”

Mozambique currently has 18 banks, eight micro banks, seven credit unions, a leasing company and an investment company, and several finance companies and microfinance operators. (macauhub/AO/MZ/PT)