Luanda – Angola Central Bank (BNA) Monday revoked the license of the Banco Kwanza Investimentos S.A. (BKI), according to the press release reached Angop on Monday.
During the Extraordinary Meeting, the BNA Board of directors, as supervisory entity of the national financial system, alleged shortage of the own regulation funds.
It said that regulation capital was crucial to ensure a continued operation of the bank, under the Basic Law on Financial Institutions.
BNA pledged to follow on the decision by requesting the Attorney General’s Office the declaration of bankruptcy of Banco Kwanza Investimentos S.A. from Luanda Provincial Court, under the provision nº 1 of the article 135th of Basic Law on Financial Institutions.
The BNA also recommended the BKI clients to remain calm, stating that the usual channels used for withdrawal will be available by January 31, 2021.
They includes branch headquarters of the said bank, ATM service, the internet and mobile banking.
The main shareholders of BKI are the businessman Swiss-Angolan Jean Claude Bastos Morais and Filomena dos Santos (Zenu), with latter son of the former president of Angola José Eduardo dos Santos.
In July 2020, Angola Central Bank recommended the Banco Kwanza Investimentos S.A. to avoid receiving new deposits, unless it is related to credit refund or debts of third party owed to the institution.
BKI net losses stood at AKz 515.2 million in 2019.
The balance sheet presented a total of net assets estimated at 10.4 million kwanzas and own capital worth thousands – 7.1 million, which includes the net results of the previous period and the current year.
