African Investments Bank opens new branch in Luanda

Mar 02, 2011

A new branch has been opened by the African Investments Bank in Luanda, Angola.

The new branch of the African Investments Bank (BAI) was inaugurated on Monday (February 28th) and it will also offer personalised counselling services to consumers, Angola Press reports.

Speaking at the launch, Executive Administrator at BAI Luis Lelis explained a total of 23 new outlets will be introduced by the organisation within the country over the next year.

He also commented that the bank - which currently has 330,000 customers and more than 1,350 employees - will continue to progress in a way that will see it become a partner in the strategic development of Angola.

At the end of last year, BAI reached an agreement with the Development Bank of South Africa on a 1.75 billion rand (€182 million) line of credit, MSN reported.

It is thought this will enable BAI to improve its development lending in Angola.