Angola’s Banco de Poupança e Crédito has new assets of US$2.1 billion at the end of 2010

9 August 2011

Luanda, Angola, 9 Dec – Angolan bank, Banco de Poupança e Crédito (BPC) at the end of last year had net assets of US$2.1 billion, according to figures from the summary report on the bank’s activities for 2010 cited by Angolan news agency Angop.

Reaching that figure, according to information from the bank, was achieved with the expansion of credit to customers in line with the Angolan government’s economic policy to support the business sector and diversify the economy.

According to the figures, deposits increased 16 percent in 2010, which gave the bank an extra 1 percentage point of market share, and its credit portfolio posted growth of 15 percent in the period.

The net profit of Banco de Poupança e Crédito totalled US$186.8 million in 2010, which was a rise of US$46.4 million against 2009.

Banco de Poupança e Crédito’s shareholders are the Finance Ministry, representing the Angolan state, the armed forces social security institute Caixa de Segurança Social das Forças Armadas Angolanas and the National Social Security Institute (INSS). (macauhub)