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Business in Africa - Zambia
BANGE (Banco Nacional de Guinea Ecuatorial)
Business Essentials:
Country: Equatorial Guinea
Industry: Banking
Year of investment: 2008
Year of investment: 2008
Business description:
- Bank for retail and corporate clients in Equatorial Guinea (EG): only bank that is locally owned by the state (35% stake)
- 3rd largest bank in EG with a market share of around 6.5%
- Main sources of income are interest income, commissions and fees on currency exchange, as well as banking service and transaction fees
- The bank operates in three segments:
- Private Banking: Facilitating customers with deposits, mortgages and consumer loans
- Corporate Banking: Loan provision and payment transaction processing for local companies
- Development Bank: Cooperation with the government to finance real economy in EG
