Citi in Talks With Angolan Bank to Offer Clearing Services

Citigroup Inc. has held talks with Banco Fomento de Angola about providing dollar and euro clearing services to the African nation’s second-largest bank, according to people familiar with the matter.

Banco Fomento de Angola, or BFA, is considering the possibility of opening dollars and euro correspondent accounts with the US-based lender, the people said, asking not to be named as the information is private. The Luanda-based bank concluded a similar deal with Deutsche Bank — the last of several US and European lenders to cut correspondent ties with the country in 2016.