Luso-Angolan bank expands to Spain

22 January 2019

Lisbon-based bank Banco Atlântico Europa will open a branch in Spain this year as it plans to add customers by expanding to other European countries, CEO Diogo Cunha told Bloomberg.

“We want to become a bank that is a benchmark in digital banking and that can help connect Africa to the rest of the world,” Cunha said in an interview at the Banco Atlântico headquarters in Lisbon.

On the bottom floor of the building, “Atlântico Go”, the bank’s digital subsidiary, allows customers to open accounts on a tablet, deposit money and withdraw up to 3,000 euros or dollars from a machine using a mobile application.

Banco Atlântico, in addition to operating in Angola, in Africa also has a branch in Namibia and a banking license to operate in Mozambique.

The Atlântico brand was born in 2006 in Angola, through the launch of Banco Privado Atlântico, currently Banco Millennium Atlântico, and entered the Portuguese market with Banco Atlântico Europa.

Banco Millennium Atlântico’s main shareholders are Interlagos Equity Partners (29.77%), BCP África SGPS (22.52%), Atlântico Financial Group (19.80%) and Jasper Capital Partners – Investimentos e Participações (15.25%) %). (macauhub)