Banco Económico (Angola)

Banco Económico S. A.

Industry	Finance
Founded	2001 as BESA rebranding in October 2014 to Banco Económico
Headquarters	Luanda, Angola
Key people	António Paulo Kassoma (CEO), Abílio Gomes
Products	Financial services
Website	www.bancoeconomico.ao

Banco Económico, formerly known as Banco Espírito Santo Angola (BESA), is a bank in Angola. The bank was created in October 2014 after its parent bank, Banco Espírito Santo in Portugal, was declared bankrupt.^[1] Banco Económico sees itself as an investment bank to support the Angolan economy and financing large national projects developing the capital market in Angola.

On 28 July 2014 it was announced that the Angolan state takes over the majority of Banco Espirito Angola, as its Angolan partners inject fresh capital of about US$ 3.5 billion into after the bank had presented in the first half of 2014 a loss US$467 million.^[2][3]

On 21 July the National Bank of Angola told BESA it had to increase its capital by at least US$ 3.5 billion, after the bank had presented a loss in the first half of US$ 467 million.

The largest shareholder is Lektron Capital (China) with 30,98% of the bank's capital, followed by Geni Novas Tecnologias (19.90%), Sonangol EP (16%), Sonangol Vida (16%), Novo Banco (9,72%) and Sonangol Holding with 7,40% of the shares.

References

External links

• Banco Económico website (pt/en)
• Forbes: Banco Espírito Santo: The Angolan Story. Published on 8 August 2014

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