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October 2, 2014updated 04 Apr 2017 12:54pm

Banco Sol plans to expand to Portugal and Brazil

Banco Sol, an Angola-based lender, is reportedly planning to foray into Portugal and Brazil market as part of its strategy to expand footprint globally.

Banco Sol, an Angola-based lender, is reportedly planning to foray into Portugal and Brazil market as part of its strategy to expand footprint globally.

"We are considering opening a representative office in Portugal and then in Brazil, since the bank wants to follow the growth of the Angolan economy and its internationalization process," the bank’s chairman Coutinho Nobre Miguel was quoted by macauhub.com as saying.

However, the bank’s immediate priority is to launch operations in Namibia in the first half of 2015 and then in Mozambique.

In its home country, Banco Sol operates 154 branches and serves 620,000 customers.

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