There are few place in the world more exciting to be than Angola: the country’s economy is booming and its society upwardly mobile. Moreover, Angolan businesses are going global, snapping up opportunities as they spread their wings and break into new markets.
A rapidly expanding economy needs agile banks to provide the required liquidity that keeps the gears of business running smoothly. Focused on serving small and medium-sized enterprises (SMEs), Banco Millennium Angola has become one of the drivers of Angola’s home-grown economic boom. In a relatively short time span, the bank has managed to claim a four percent market share.
Founded in 2006 just before the onset of the global downturn, Banco Millennium Angola perhaps symbolises the resilience of the country’s economy and its financial sector. Serving the retail and corporate market through dedicated channels, the bank is exceptionally well poised to maximise its exposure, not just to the country’s dynamic business climate but also to the previously unbanked demographic as it leaves poverty behind to join the ranks of the burgeoning middle class.
Banco Millennium Angola is, however, not a newcomer to the country and can trace its roots back to the 1994 and the opening of Banco Português do Atlântico. Today, the bank is part of the Grupo Millennium, a financial services company with a presence in Portugal, Mozambique, Poland, Greece, Romania, and Switzerland. At home, Banco Millennium Angola strives to contribute to the diversification of the economy by actively supporting local businesses and start-ups with a full suite of products and services designed to facilitate corporate growth and innovation.
Continuing its own expansion drive, late last year Banco Millennium Angola opened five additional Prestige Centres to further improve its proximity to discerning retail clients and entrepreneurs looking for personalised services. The bank also operates eight centres dedicated to serving corporate customers and maintains a network of over a hundred branch offices throughout the country.
The CFI.co judging panel is pleased to see that Millennium Bank Angola is perfectly attuned to its home market – one of the most vibrant globally – and expanding at a clip even exceeding that of the national economy. The judges also noted that the bank deftly manages its accelerated growth, adhering to the highest standards of governance while offering its clients best-in-class services delivered with both speed and professionalism. The judging panel hereby extends the Best Commercial Bank Angola 2015 Award to Banco Millennium Angola.