BancABC – African Banking Corporation
10:46 CAT | 20 May 2016
BancABC Mozambique is a wholly owned subsidiary of ABC Holdings Limited (ABCH). ABC Mozambique was incorporated in 1999 as BNP Nedbank (Moçambique), a joint venture between BNP Paribas and Nedbank of South Africa. In 2001 ABCH acquired 100% of shares in the bank, changing its name to African Banking Corporation (Moçambique) and eventually to BancABC Mozambique. The original product offering included Treasury Services, Investment Banking, Corporate Banking and Structured Trade Finance. This has recently been complemented by a fully fledged Retail banking offering to individuals and small businesses.
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