Bank of Angola requires cheques for withdrawals at branches

19 September 2016

Withdrawals at the branches of the Banco de Poupança e Crédito (BPC) bank are to be held from November 1st only on presentation of checks, announced the Angolan state-owned bank said in a statement published in Luanda.

“From 1 November, 2016, all withdrawals in the segments of businesses and individuals in national currency should be made exclusively with the use of cheques,” according to a statement on the BPC’s website.

This standard is intended, according to the bank to gain greater control and reliability in transactions, and customers have been warned that they need to order cheque books.

The BPC has branches in 95 cities of Angola and, in 2015 alone, opened 36 branches, totalling 406 points of service.

The portfolio of bank deposits grew 4.5% in 2015 to 911.400 trillion kwanzas, according to the bank’s annual report, which adds that net income reached 8.3 billion kwanzas.

Banco de Poupança e Crédito, formerly known as Banco Popular de Angola, is the heir of Banco Comercial de Angola, founded in 1956 and nationalised by the Angolan government after independence in 1975.  (macauhub/AO)