Bank BIC Namibia Limited

Bank BIC Namibia Limited, is a commercial bank in Namibia. It is licensed by the Bank of Namibia, the central bank and national banking regulator.[3] The bank is a subsidiary of the Bank BIC Group, a financial services conglomerate, based in Angola, with banking subsidiaries in Angola, Portugal, Cape Verde and Namibia, with a representative office in South Africa.[4] 

Bank BIC Namibia Limited
TypeSubsidiary of Bank BIC Group
IndustryFinancial services
FoundedJuly 1, 2015 (2015-07-01)
HeadquartersWindhoek, Namibia
Key people
Fernando Mendes Teles
Chairperson[1]
Jorge Veiga
Managing Director and CEO[1]
ProductsLoans, checking, savings, investments, debit cards
RevenueAftertax: NAD:26.9 million (US$1.61 million) (2018)[2]
Total assetsNAD:374 million (US$22.36 million) (2018)[2]
Number of employees
25 (2016)[1]
Websitewww.bankbic.na

Overview

The bank operates as a retail bank, serving individuals, small and medium-sized businesses (SMEs), and large corporations, as well as non governmental organisations. As of December 2018, the bank's total assets were NAD:374 millIon (approx. US$22.36 million).[2] Shareholders equity in 2016 was NAD:266,774,801 (approx. US$14.2 million).[1]

History

The bank was licensed as a commercial bank in Namibia, in July 2015. It opened for business in May 2016, with one branch at the headquarters building. Later it opened a branch in the Prosperita Industrial Area, south of Windhoek and another branch in the city of Walvis Bay, on the Atlantic Ocean coast.[5]

Ownership

Bank BIC Namibia Limited is a 100 percent subsidiary of the Bank BIC Group, headquartered in Angola, with subsidiaries in three African countries, one European country and representative office in a fourth African country.[4]

In July 2017, the group's affiliate in Portugal changed its name from "Banco BIC Portugal" to "Banco EuroBIC", due to court order as there was infringement on the name of "BancoBIG Portugal".[6] In February 2020, Bank EuroBIC was 95 percent acquired by Abanca, the Spanish financial services conglomerate, for an undisclosed consideration.[7]

Branch network

The bank's headquarters is at Dr. Agostinho Neto Road, Ausspannplatz, Windhoek, in the central business district of the country's capital city. As of April 2020 the bank maintains branches at these locations:[8]

  1. Head Office: Dr. Agostinho Neto Road, Ausspannplatz, Windhoek.
  2. Main Branch: Dr. Agostinho Neto Road, Ausspannplatz, Windhoek.
  3. Prosperita Branch: Gold Street, Prosperita Industrial Area, Windhoek.
  4. Walvis Bay Branch: 12th Road, Walvis Bay, Namibia.

Governance

The bank is governed by a five-person board of directors. The chairman of the board is one of the non-executive directors. As of April 2020, the Chairperson was Fernando Mendes Teles. The managing director and CEO is Jorge Veiga.[1]

See also

References
  1. Bank BIC Namibia Limited (21 April 2017). "2016 Management Report: An Overview of Annual Performance" (PDF). Windhoek: Bank BIC Namibia Limited. Retrieved 4 April 2020.
  2. Lazarus Amukeshe (7 July 2020). "Bank BIC releases 2018 financials". The Namibian. Windhoek. Retrieved 13 July 2020.
  3. Bank of Namibia (4 April 2020). "Licensed Commercial Banks In Namibia". Windhoek: Bank of Namibia. Retrieved 4 April 2020.
  4. Fernando Mendes Teles (2016). "Message From The Founding Chairman". Windhoek: Bank BIC Namibia Limited. Retrieved 4 April 2020.
  5. My Namibia (2017). "About Bank BIC Namibia Limited". Windhoek: My Namibia. Retrieved 4 April 2020.
  6. Macau Hub (23 June 2017). "BIC Português bank changes name to EuroBic" (Translated from the original Portuguese language). Macau: Macau Hub. Retrieved 4 April 2020.
  7. Macau Hub (11 February 2020). "Spanish Bank Abanca buys 95% of Portuguese-Angolan EuroBic bank" (Translated from the original Portuguese language). Macau: Macau Hub. Retrieved 4 April 2020.
  8. Google (4 April 2020). "Map Showing Locations of Bank BIC Namibia Limited" (Map). Google Maps. Google. Retrieved 4 April 2020.

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