Banco Económico replaces Banco Espírito Santo Angola

Banco Espírito Santo Angola (BESA) has ceased to exist and in has been replaced by Banco Económico, whose shareholders include Angolan state oil company Sonangol and Portugal’s Nov Banco, the National Bank of Angola said.
The changes were made during an extraordinary general meeting of shareholders held Wednesday in Luanda, in compliance with the stipulations of the Angolan central bank, which will thus end its intervention in BESA.
In the statement the National Bank of Angola (BNA) said, “subscription of the capital has been confirmed,” as decided by the central bank itself a week ago, as part of reorganisation measures and direct intervention in BESA.
Without revealing the size of each stake, the BNA said “under the prior regulatory approval,” the general meeting decided on the “continuity of shareholder Geni,” which previously held a stake of 18.99 percent.
The new shareholder structure also involved bank Lektron Capital, state oil company Sonangol and Portugal’s Novo Banco taking a stake.
The BNA board of directors also approved the end of direct intervention in BESA, from 31 October, when “when the provisional directors appointed for that purpose (since 4 August) will cease their duties and shareholders may once again take on management of the bank.” MDT/Macauhub