Angolan banks aim to expand across country

Nov 20, 2012

Commercial banks in Angola are planning to expand their operations more widely across the country, an official has stated.

Commercial banks in Angola are planning to expand their operations more widely across the country, an official has stated.

According to Fernando Teles, chief executive of the BIC Bank, the African nation is currently a relatively stable market with a favourable economic dynamic, the Angola Press reports.

As a result, he is confident that banks will continue to invest more heavily in their operations, now they have secured a province in every Angolan commune and municipality.

BPC is among those he expects to step up investment in the near future, along with BFA, BAI and his own organisation.

Mr Teles said it is very important for banks to have a presence in every part of the country, as it helps to support job creation in different regions and boosts local wealth.

He added that establishing branches in every municipality can help to drive an increase in investment in these locations.

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