Angola Press Agency (Luanda)

Angola: Development Promotion Bank Extinct

25 February 2013

Luanda — The bank for development promotion, created by the oil firm (Sonangol) and the general fund deposits is formally extinct, announced Sonangoal's CEO, Francisco Lemos Maria, Angop has learnt.

The manager said so during a press conference that marked Sonangol's 37th anniversary, celebrated on Monday, adding that the mentioned bank was extinct with the issuing of a licence by the National Reserve Bank (BNA) in favour of the Savings and Housing Promotion Bank.

"The Sonangol-CGD Bank is formally extinct. It was extinguished in the date BNA issued a licence in favour to the Savings and Housing Promotion Bank", he said.

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