History

 

The Bank's history dates back to February 1996 when the Bank Totta & Açores, from Portugal, opened a branch in Praia, Santiago, Cape Verde.

The branch became a bank by Cape Verdean law, under the name of BTCV - Banco Totta de Cabo Verde, in January 2003, opening two more branches in Mindelo and Assomada.

With the creation of BTCV begins a new phase of the Bank which would culminate with the acquisition in October 2004 of its total capital, the Cape Verdean company SEPI - Sociedade para o Estudo e Promoção do Investimento (Society for the Study and Promotion of Investments) SA.

With this negotiation arises as the 1st private and 100% Cape Verdean throughout the history of the national financial system.

In February 2005, for strategic reasons, SEPI decides to change the name of the Bank being thereafter called BCN - Banco Cabo-verdiano de Negócios.

In February 2007, BCN and Banif established a strategic partnership, which will contribute to a repositioning of BCN in the Cape Verdean banking market.

 

In 24th March, 2017, IMPAR acquires the shareholder position of BANIF that corresponds to 51,7% of the shares, concluding thus the negotiations that were happening since December 2016, putting BCN again as the only Bank in Cabo Verde with capital and management 100% capeverdean.