Dos Santos's Bank BIC gets green light
The Bank of Namibia (BoN) yesterday announced its approval of an application for a banking licence by Angola’s Bank BIC Namibia Ltd.
The approval means that Bank BIC Namibia is now permitted to offer full banking services in Namibia.
The approval follows an earlier, provisional authorisation granted by the central bank in October 2014.
Bank BIC Namibia will operate as the local arm of Angola’s largest financial service provider, Banco BIC, which has the daughter of Angolan President Jose Eduardo dos Santos as its main shareholder. Isabel dos Santos is said to hold 42.5% of shares in the bank.
Banco BIC Angola was established in 2005 and expanded to Portugal in 2008. It is currently Angola’s largest bank with more than 200 branches, 3 000 employees and an estimated one million customers.
“The Bank of Namibia congratulates the shareholders and executive management team of Bank BIC Namibia Ltd and hereby extends best wishes on their future endeavours in the banking sector,” Bank of Namibia’s director for strategic communications and financial sector development, Ndangi Katoma, said yesterday.
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The approval means that Bank BIC Namibia is now permitted to offer full banking services in Namibia.
The approval follows an earlier, provisional authorisation granted by the central bank in October 2014.
Bank BIC Namibia will operate as the local arm of Angola’s largest financial service provider, Banco BIC, which has the daughter of Angolan President Jose Eduardo dos Santos as its main shareholder. Isabel dos Santos is said to hold 42.5% of shares in the bank.
Banco BIC Angola was established in 2005 and expanded to Portugal in 2008. It is currently Angola’s largest bank with more than 200 branches, 3 000 employees and an estimated one million customers.
“The Bank of Namibia congratulates the shareholders and executive management team of Bank BIC Namibia Ltd and hereby extends best wishes on their future endeavours in the banking sector,” Bank of Namibia’s director for strategic communications and financial sector development, Ndangi Katoma, said yesterday.
DENVER ISAACS
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