The banking group Caixa Geral de Depositos (CGD) controlled by the Portuguese state has become the sole majority shareholder of Banco Totta Caixa de Angola, we learned on 9^th July from local media sources. CGD has, in fact, become the sole shareholder of Partang SGPS, the financial holding company controlling 51% of the Angolan bank.

In 2009, CGD and the Spanish group Banco Santander Totta, majority shareholders of Partang SGP reached an agreement on the principle of an option allowing the Portuguese group to own 100% of the holding company, which it appears has now come through.

Originally, Banco Totta Caixa de Angola belonged exclusively to Banco Santander, who sold 49% of its shares to Angolan shareholders and divided the remaining 51% with the Portuguese financial group.

The amounts exchanged for this operation have not been disclosed. But today, the Angolan bank has amongst its shareholders, in addition to the Portuguese Caixa Geral de Depositos, the National Angolan oil company Sonangol owning 25% of share capital, and two Angolan businessmen (António Mesquita et Jaime Fraitas), each with 12% of share capital.