Angolan municipalities covered by banking network by end of 2012

26 November 2010

Luanda, Angola, 26 Nov – The governor of the Angolan central bank (BNA), José Lima Massano, said Wednesday in Luanda that by the end of 2012 all of the country’s municipalities would have a bank.

Speaking at the closing ceremony of the 3rd Forum on the Economy and Finance, the governor said that the banking sector would expand its retail network, although organisational, operational and logistical difficulties remained.

Massano also said that by the end of 2012 there would be almost 1,000 bank branches in Angola whilst the banking rate of the population would stand at around 20 percent.

The governor noted that the government had approved a strategy for development and consolidation of the financial system, a programme which, in his opinion, sought to ensure growth of banks in harmony with the sector’s best practices, gaining greater trust from customers and more sustainability in application of resources for development of the business sector. (macauhub)