Luanda - Housing loans granted to individuals by commercial banks totalled 248.57 billion kwanzas in June, of which 52.77 billion kwanzas which corresponds to 21.23%, were loaned under Notice 9/2022 of the National Reserve Bank of Angola (BNA).
According to statistical data available on the BNA website for the month of June, gross credit granted under the Central Bank's notices totalled 929.80 billion kwanzas, representing 69.35% of total credit to the real sector, surpassing the same period last year at 264.66 billion kwanzas (39.79%).
Regarding housing credit, by the first quarter of 2023, BNA recorded a huge increase of 45 billion kwanzas corresponding to 81% of the total credit that was granted by the banks especially framed in the Notice 9.
With this document, BNA makes available a total of 58 billions of kwanzas so that the commercial banks can be able to grant loans with subsidised interest rates, to citizens wishing to purchase or build their own home, with a view to minimising the housing shortage in the country.
The document, which is in force since June 2022, clarifies that the available amount comes from the reserve requirements of commercial banks at the closest BNA aiming to fund building companies and individuals.
Notice 9 states the insertion of a subsidised interest rate of 7% per year during the first 10 years of the credit and its amortisation within a maximum period of 25 years, which may go up to 30 years, exceptionally.
The maximum amounts eligible for funding are determined due to the financial capacity and guarantees of borrowers, which can be loaned up to 100 million kwanzas if there are two or one borrower with a agent, but if is just one borrower then it is available 50 million kwanzas. QCB/NE/MRA/jmc
