16 December 2012

Bank of China Opens Representative Office in Luanda, Angola

- First Chinese-funded bank approved by the central bank of Angola
- BOC has branches in Zambia, South Africa and Kenya

12 December 2012 - Recently, the representative office of Bank of China (BOC) in the capital of Angola, Luanda officially opened, making it the first Chinese-funded bank approved by the central bank of Angola and officially registered in Angola as well as the fourth permanent organization set up by Bank of China on the African continent following the branches in Zambia, South Africa and Kenya. 

In recent years, the development of the economic and trade between China and Angola has brought an increasing demand for financial services. BOC Luanda Representative Office will provide clients with financial advisory services and offer enterprises with consulting services in such aspects as financing, foreign exchange, clearing and investment. In terms of the projects and financing demand of enterprises, the 
BOC Luanda Representative Office may locally conduct preliminary survey and evaluation, and give full play to the overall advantages of BOC in linking the domestic and overseas markets, so as to help enterprises handle fund or clearing demand. 

Established in 1912, BOC is the only commercial bank in China continuously operating for a century, as well as the most internationalized and diversified commercial bank in China. In November 2012, BOC again edged itself into the rank of the Global Systemically Important Financial Institutions, making it the only one in emerging economies that has been selected for two consecutive years. Currently, overseas institutions of BOC cover Hong Kong, Macau, Taiwan and other 35 countries and regions and provide financial services to countries such as Oman, Peru, Ghana, Chile and Turkey through “China Counter” model, and have established cooperation and agency relationships with nearly 1,500 foreign banks from 179 countries and regions.

Source: Bank of China