Luanda - The International Bank of Commerce (BIC) plans to close, in the near future, around 40 of its 230 branches installed in the country's 18 provinces, due to the current Angolan macroeconomic situation, with emphasis on the continued depreciation of the national currency Kwanza, as well as the weak purchasing power of families.
According to the chairman of the BIC Executive Board, Hugo Teles, the institution “it is not in its best phase, in terms of financial results”, taking into account the country's current economic and financial situation.
Speaking to the press on Monday, on the sidelines of the signing of the partnership protocol between the bank and new co-investors, as part of the “Crescer Juntos” (Grow together) project, the official said that due to the closure of the aforementioned branches, 300 or 400 workers could be laid off.
He added that, in addition to the employees, each branch has a team of three security guards and other employees.
Hugo Teles clarified that the bank needs foreign currency to work, but sometimes it has to lend to other institutions, a fact that increasingly complicates the bank's functioning.
According to the manager, BIC is the only bank that has not yet closed branches in Angola, despite the current reality that the country is going through.
ML/QCB/MRA/jmc
