Luanda – The Banco de Poupança e Crédito (BPC) bank has recovered about 40 billion kwanzas of non-performing loans, in a universe of 400 billion kwanzas (20%) of the default portfolio, the chairman of the Board of Directors announced on Wednesday in Luanda.
Speaking to the press, at the reopening of the headquarters of this state-owned commercial bank, the manager recalled that the institution transferred 951 billion kwanzas to Recredit, which corresponds to 80% of BPC's total non-performing loan portfolio.
He added that, as part of the transfer of non-performing loans to Recredit, a company dedicated to recovering non-performing loans from the State bank, BPC was left with about 20%, which offered greater guarantees of its recoverability.
In this area, last May, Recredit announced that it recovered 30.96 billion kwanzas in non-performing loans during the 2023 financial year.
Created in 2016, Recredit is a public business sector company whose mission is to recover non-performing loans acquired from BPC, manage assets from the business and provide credit recovery services to all banks in Angola.
As for the reopening of the BPC headquarters building, the act was part of the 49th anniversary of Angolan Banking, marked this Wednesday (August 14), since a group of Angolan bank employees decided to take over the destinies of this sector from colonial authorities.
With more than 20 floors, rehabilitated and modernized, the BPC headquarters was opened for the first time on January 28, 1967, having been in the beginning the headquarters of BCA (Banco Comercial de Angola), which only became BPC in the 90s.
Earlier, on November 11, 1975, the bank was renamed Banco Popular de Angola (BPA).
Currently, with 340 workers, BPC has 261 service units across the country. QCB/DOJ
