Tuesday, July 24, 2007

FNB launches Mozambique operations

(Reuters) - First National Bank, a unit of South Africa's second biggest banking group, FirstRand, said on Tuesday it had launched its Mozambican operation, FNB Mozambique.

The launch follows parent company FirstRand's purchase of an 80 percent stake in Banco Desenvolvimento e Comercio (BDC) from majority shareholder Montepio Geral Group in Portugal and other shareholders.


Read more at Reuters Africa

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