On September 1, 1993, Banco Comercial do Atlântico (BCA) was created as a result of the separation of the commercial and supervisory aspects that had been carried out by the Bank of Cape Verde (BCV) since September 29, 1975, BCV, from 1993, they assumed only the functions of Central Bank.

CREATION

BCA, a public limited company with exclusively public capital, was created by Decree-Law no. 43/93, of July 16, with the initial capital of 500,000,000.00 (five hundred million escudos). At the same date, Decree-Law No. 44/93 was set up, the BCA's installation commission consisting of five (5) members, including a president, appointed by order of the Minister of Finance.



The first Board of Directors of BCA began their activities on September 1, 1993. Since that date, the following members have held the position of Chairman of the Board of Directors:

From 1993 to 1995 - Amélia Maria St'Aubyn Figueiredo
From 1995 to 1997 - João Higino do Rosário
From 1997 to 2000 - Adalberto Higino Silva
From 2000 to 2006 - Antonio Miguel Ornela Afonso
From 2006 to 2010 - João Henrique Real Pereira
From 2010 to 2013 - Antonio Joaquim Sousa
From 2013 to this date - Antonio Jose de Castro Guerra


Decree-Law no. 70/98, of December 31, authorizes the sale of part of the shares held by the State at Banco Comercial do Atlântico, SARL (BCA). Resolution No. 74/98, of the same date, approved the regulation of the international contest for the acquisition of the respective shares, as well as the choice of strategic partners for the development of the country's Financial Institutions.


In the context of this negotiation, the group formed by Caixa Geral de Depósitos / Banco Interatlântico, which acquired 52.5% of BCA's capital, was selected as a strategic partner for the BCA in February 2000.

On November 27 of the same year, 25% of its participation in a "special session of the stock exchange" was sold by the State of Cape Verde to small investors and bank employees, thus complying with the second phase of the privatization process.

Thus, the Cape Verdean financial sector changed with the acquisition (directly and indirectly) of the majority of the capital stock of Banco Comercial do Atlântico, Garantia – Insurance Company of Cabo Verde (and Promotora - Sociedade de Risk Capital By the Group formed by Caixa Geral de Depósitos / Banco Interatlântico.

In this way, the largest financial group of the country was created, which allowed greater synergies in the activities of these institutions.

SHARE CAPITAL

BCA's share capital amounted to 1,324,765,000 (one billion three hundred twenty-four million seven hundred and sixty-five thousand Cape Verde escudos) and on 12/31/2014 it was held by the shareholders, in which it may be stated that the holdings of Caixa Geral Banco Interatlântico, the National Institute of Social Security (INPS), Garantia - Cape Verde Insurance company and Airport and Air Security (ASA).

BCA shares are currently distributed as follows:

- 697,446,000 Shares, corresponding to 52.65% belonging to the group Caixa Geral de Depósitos, SA / Banco Interatlântico, SARL;
- 89,504,000 shares, corresponding to 6.76% belonging to CGD;
- 128,681,000 shares, corresponding to 10% belonging to the INPS;
- 76,322,000 shares, corresponding to 5.76% belonging to Garantia, SARL;
- 28,780 shares, corresponding to 2.17% belonging to ASA - Aeroporto e Segurança Aérea, SA;
- 37,146 shares corresponding to 2.80% belonging to BCA employees;
And 263,075 shares, corresponding to 19.86% belonging to Other Shareholders (Public / Emigrants).

DISTRIBUTION NETWORK

At the time of the transfer of the functions of commercial bank from BCV to BCA, the banking distribution network was limited to twelve branches and three extensions: agencies of Ribeira Grande and Porto Novo - Santo Antão Island, São Vicente, São Nicolau, Sal, Boavista, Maio, Fogo and da Brava, as well as Praia, Santa Catarina and Tarrafal - Santiago Island and the prolongations of Mosteiros - Fogo Island, Tarrafal de São Nicolau and Amílcar Cabral Airport - Sal Island.

BCA, which has significantly increased its distribution network, currently has 34 branches (30 branches and 4 offices) in all the islands and in almost all municipalities. Starting in 1999, betting on the new technologies introduced the automatic machines as another option for the diversification of the distribution channels. There has been significant growth in recent years, driven both by the widespread use of new technologies in Cape Verdean society, as well as by the policy of bettering non-presence channels implemented by BCA. In 2015, he opted for the installation of fast deposit machines, the first network of self-service note deposit machines, installed in Cape Verde. They were installed in a first phase in Praia: Agência da Praia, Agência Avenida, Agency of Palmarejo. In Mindelo in the Agency of S. Vicente and Agência Empresas Norte. At Sal at the Espargos Agency.


In 2014 a large part of current transactions were carried out through electronic channels, as regards debit cards, the BCA issued 36,458 Vinti4 cards, 663 less (21%) than in 2013. BCA's Vinti4 production accounted for 42% of the total production of the network increased by 6,531 units in 2014, 8% compared to the year 2013. As regards BCA's active cards, on December 31st, 2014 the Bank had 62,266 units, an increase Of 795 in relation to the year 2013 and represented 35% of the entire network.

In 2014, 850 Visa Network credit cards were issued, of which 650 were these renewals / substitutions. In relation to 2013 emissions increased by 59 cards (7%). Thus, as of December 31, 2014, BCA had accumulated 1,610 Visa credit cards.

The Prepaid Visa Product, BCA Visa Flex, remains the most sought after product. 3,053 Visa Flex cards were issued in 2014, with 1,735 (57%) renewals and 1,318 (43%) new issues.

In terms of accumulated cards, as of December 31, BCA had accumulated 4,918 Visa Flex cards.

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