Angola’s BIC Bank plans to open branch in Macau

Banco Bic

Angolan bank Banco BIC wants to open a branch or set up a local bank in Macau, in the short to medium term, and is making contacts with this in mind, the bank’s chairman, Fernando Teles said on Wednesday in Macau.

Teles, who travelled to Macau to take part in the Conference of Financial Area Businesspeople and Officials from China and the Portuguese-speaking Countries, also told Angolan news agency Angop it made sense to have a physical presence in Macau, given its role as a platform in the relationship between China and the Portuguese-speaking countries.

Banco Bic Chairman, Fernando Teles
Banco Bic Chairman, Fernando Teles

“The Angolan banks already have a presence in Africa and Europe, but in China there is nothing, so we are making efforts to find a partner in Macau to open a bank here, a branch or a local bank,” said the chairman of Angola’s largest private bank by number of branches.

Teles said that his bank’s interest in the Chinese market was “very significant” as, as well as Macau and Hong Kong, “there is the country’s mainland, which is a large market and a strong economy.”

The Conference of Financial Area Businesspeople and Officials from Chin and the Portuguese Speaking Countries was held under the theme “Innovation of the financial services model. – Promotion of cooperation in industrial capacity between China and Portuguese-speaking countries.”

Source: macauhub