Angolan state bank threatens to disclose list of debtors

3 February 2020

The debtors of Angolan state bank Banco de Poupança e Crédito (BPC) have until 28 February to pay off their debt arrears or be included in a list of debtors that will be publicly disclosed, said last week in Malanje province the chairman of the board of directors of the bank.

André Lopes, at the end of a meeting with the governor of the province of Malanje, drew debtors’ attention to solving the issue of credits in default at different branches of BPC, adding that ways of resolving the problem “necessarily involve total or partial payment of the debt.”

The official said agreements based on the extension of the amortisation period of loans, renegotiation of interest rates, total pardon of interest on arrears or the pardoning of 50% of the accrued interest, were some possibilities for debtors to solve their situation.

Last year the BPC’s debt reached 1.118 trillion kwanzas (US$2.2 billion), of which only 47 billion kwanzas were settled, said Lopes in the statements made in Malanje.

A diagnosis carried out by the Board of Directors who took over the BPC in June of last year, chaired by Lopes (former chairman of Banco Yetu) “confirms the need for an additional capital injection by the shareholders.”

The shareholders of Banco de Poupança e Crédito (BPC) are the Angolan State, represented by the Ministry of Finance (75%), the National Institute of Social Security (15%) and the Social Security of the Angolan Armed Forces (10%). (macauhub)