ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Fri, 14 Sep 2018 11:27 - Updated Fri, 14 Sep 2018 11:27

Shareholders of Banco Económico deny Álvaro Sobrinho's statements

Luanda - The board of directors and the shareholders of Banco Económico (B.E) Bank on Wednesday denied the statements made by the former chairman of the Executive Committee of Banco Espírito Santo Angola (Besa), Álvaro Sobrinho.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

Álvaro Sobrinho considered “Political decision” as the cause of the B.E bankruptcy.

According to a note from shareholders of the Banco Económico Bank the statements made in an interview with the Public Television of Angola (TPA) on Tuesday (Sept 11) by Álvaro Sobrinho were considered "false and untrue".

On the document, the shareholders refer to the statements of the Centrall Bank of Angola (BNA), dated October 20, 2014, and the Central Bank of Portugal, dated August 3, 2014, which mention passages that reveal the consequences of management actions by the businessman Álvaro Sobrinho.

On an interview to the TPA, Álvaro Sobrinho said that Besa’s bankruptcy happened due to a political decision, taking into account the people involved in it.

Besa's bankruptcy was declared on October 14, 2014. At the time it had 34 branches.

Tags Economy  

Read also
  • 31/01/2019 17:55:18

    Governor guarantees support for agricultural development

    Saurimo - The provincial governor of Lunda Sul, Daniel Félix Neto, assured Thursday in Saurimo, to support peasants with agricultural instruments and seeds, as part of the Government's strategy to combat hunger and poverty.

  • 31/01/2019 10:43:25

    Angola and Namibia study model of Baynes dam construction

    Malanje - Angola and Namibia on Wednesday discussed technical, economic and environmental requirements for the construction of the Baynes Binational hydroelectric dam in the border region of both countries.

  • 30/01/2019 11:42:40

    Biocom to increase sugar output

    Luanda - The Bio-energy company of Angola (BIOCOM) expects to increase its sugar production this year, from the prior 73,000 produced in 2018 to 100,000 tonnes in 2019, said the firm’s assistant manager, Luis Júnior.

  • 30/01/2019 09:01:30

    Sonangol exports over 92,200 metric tonnes of crude-oil in last quarter of 2018

    Luanda - The state-owned National Fuel Society (Sonangol) exported in the last quarter of last year 92,211 metric tonnes of crude-oil, which yielded a revenue of just over 39.5 million dollars, announced on Tuesday the company’s Executive Commission head for international trade, Luís Manuel.