Banco da África Ocidental
| Banco da África Ocidental SA | |
|---|---|
| legal form | Sociedade Anónima (SA, public limited company) |
| founding | 2000 |
| Seat | Bissau |
| management | Romulo Pires (General Manager) |
| Number of employees | 100 |
| Branch | Banks, mortgage loans |
| Website | www.bancodaafricaocidental.com |
| Status: 2016 | |
The Banco da África Ocidental , SA ( BAO , Portuguese for "Bank of Western Africa") is a private bank in Guinea-Bissau .
history
After initial efforts from 1997 onwards, the bank was founded in 2000. In connection with the accession to the CFA franc zone in 1997 and in particular the civil war from 1998 onwards, the country was economically unstable and badly hit, and the country's two commercial banks until then found themselves in an increasingly difficult environment. As a result, the Guinea-Bissau BIGB filed for bankruptcy, and the Portuguese Totta & Açores (now part of Banco Santander as Banco Santander Totta ) withdrew from Guinea-Bissau. Until 2005, BAO remained the country's only commercial bank.
Three other banks are now active in the country (BDU, Orabank and Ecobank), but BAO remained the market leader.
In 2009, the geocapital investment company of Macau entrepreneur Stanley Ho and Portuguese Ferro Ribeiro increased its stake from 36% to 60% when it acquired shares in the Portuguese Montepio bank in BAO.
numbers
BAO is the market leader in Guinea-Bissau. In 2016, the BAO had over 100 employees and operated ten of the 21 bank counters in the country. The BAO handles around half of the nationwide banking turnover of 6.6 billion CFA (around 10 million euros ).
The majority owner is the geocapital investment company with around 60%, the remainder is held by predominantly Guinea-Bissau and Portuguese shareholders.
Web links
- Homepage BAO (Portuguese)
Individual evidence
- ↑ Entry on the BAO at the West African Bankers Association ( Memento of the original from December 1, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (English), accessed November 19, 2017
- ↑ a b History of the BAO (own representation) (Portuguese), accessed on November 19, 2017
- ↑ a b Geocapital assume controlo do Banco da África Ocidental, da Guiné-Bissau - "Geocapital takes control of Banco da África Ocidental" , article from June 29, 2009 of the business news portal www.macauhub.com.mo, accessed on November 19, 2017
Coordinates: 11 ° 51 ′ 28 " N , 15 ° 34 ′ 47" W.