Banco Económico (Angola) - A Comprehensive Guide

Banco Económico is one of the largest banks in Angola, with a rich history dating back to 1986. It was founded by the Angolan government as a state-owned bank.

The bank's mission is to provide innovative financial solutions to its customers, with a focus on economic growth and development. Banco Económico has a strong presence in the country, with a network of branches and ATMs across Angola.

Banco Económico offers a wide range of financial products and services, including personal and corporate banking, loans, and investment services. Its products are designed to meet the diverse needs of its customers, from individuals to large corporations.

With a strong commitment to customer service, Banco Económico has built a reputation for reliability and trustworthiness in the market. Its experienced team of professionals is dedicated to providing expert advice and support to its customers.

Banco Económico is an Angolan bank based in Luanda. It was previously known as Banco Espírito Santo Angola (BESA) before being renamed in 2015.

The bank is a subsidiary of Espírito Santo Financial Group (ESFG) and was affiliated with the now defunct Banco Espírito Santo, now Novo Banco.

Banco Económico's largest shareholders include Sonangol, Novo Banco, Portmill's Angolan company, and Geni group. Sonangol holds about 35% of the capital, while Novo Banco has a 9.9% stake.

The Banco Económico has a rich history that's worth exploring. It was created in 2001 as Banco Espírito Santo Angola (BESA), a subsidiary of the Portuguese bank Banco Espírito Santo.

The bank remained under the BESA name until 2015, when the Portuguese bank Banco Espírito Santo went bankrupt. This led to the creation of Novo Banco, which took over the Portuguese bank's assets.

In 2014, the Angolan government stepped in to save the BESA by injecting $3 billion in capital, gaining control of the bank in the process. This move ensured that the Portuguese bank would be repaid its loan to BESA.

The major shareholders of BESA at the time included Sonangol, Novo Banco, Portmill, and Geni, with Lektron Capital holding a significant stake as well.

Banco Económico offers a variety of services to its customers, including banking services, investment services, and insurance services.

Their banking services include checking accounts, savings accounts, and credit cards, which can be managed through their online platform or mobile app.

Customers can also invest in stocks, bonds, and other financial instruments through the bank's investment services.

Their insurance services offer protection for individuals and businesses, including life insurance, property insurance, and liability insurance.

Banco Económico's services are designed to meet the diverse needs of its customers, from everyday banking to long-term investment and insurance solutions.