Five commercial banks operating in Angola accounted for 95.08% of all bank loans overdue for more than 90 days at the end of 2017, according to the Financial Stability Report for the last year published by the National Bank of Angola (BNA).
The five banks, which the BNA did not identify, included a public bank and four private Angolan banks.
In the overall banking system, public banks recorded the highest level of default, representing 81.49% of the system’s total overdue loans, followed by national private banks with 17.28% and foreign private banks with 1.23%.
In 2017, the continued increase of overdue loans in the banking system rose by 1.201585 trillion kwanzas (US$4.306 billion), an increase of 30.85% over the book value at the end of 2016 and 265.25% compared to 2013.
The ratio of past due loans to total loans stood at 11.18% in December 2013, 25.37% in December 2016 and 32.21% in December 2017, and the ratio of irrecoverable loans over total credit was 9.26% in December 2013, 12.58% in December 2016 and 28.78% in December 2017.
The Angolan banking sector consists of 30 banks, of which three are public, 20 are private Angolan banks and seven are foreign private banks. (macauhub)