Credit in Angolan economy totaled US$ 3.483 billion from 1988 to 2006

30 July 2007

Luanda, Angola, 30 July – Credit granted by Angola’s commercial banks between 1998 and September, 2006 totaled 260.470 billion kwanzas (about US$ 3.483 billion), according to figures from Angola’s central bank.

The statistics, released Friday and cited by state news agency Angop, said Angola’s state sector received credits of 28.998 billion kwanzas, while the private sector’s loans were worth a total 231.471 billion kwanzas from 1998 to last year.

Angola’s central bank added that credits to the state by private banks totaled 46.902 billion kwanzas in the same period.

Loans to the public sector in foreign currency were worth the equivalent of 24.272 billion kwanzas, with 4.726 billion kwanzas credit granted in national currency.

Loans from the BPC bank accounted for 25.17 percent of total credit, followed by BFA with 24.36 percent. BAI gave 14.91 percent of loans, BESA 9.31 percent and BIC 9.92 percent.

In the period in question, total deposits in commercial banks reached 648.100 billion kwanzas, some 255.606 billion kwanzas of this in national currency.

Current accounts were worth 134.775 billion kwanzas, while deposit accounts totaled 65.697 billion kwanzas. (macauhub)