ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Tue, 14 Jul 2020 14:25 - Updated Tue, 14 Jul 2020 14:26

BPC bank closes branches

Luanda - The State-owned Savings and Credit Bank (BPC) confirmed Monday the closure of 53 branches in several provinces of the country, as part of restructuring programme of the financial institution.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

BPC branch

Photo: David Dias

The information was released to ANGOP by the institution's Marketing and Press Department, without further details.

Branches and counters closed are those in the provinces of Luanda, Cunene, Cuanza Sul, Benguela, Huíla, Namibe, Cuando Cubango, Malanje, Uíge, Cabinda, Lunda Sul, Moxico and Bengo. 

The move marks the beginning of redundancy process from the country's largest state-run financial institution, which has seen its assets deteriorating in the last seven years, with accumulated losses until December 2019 of 404.7 billion kwanzas. 

In its list released at the end of June and sent to ANGOP, BPC names Luanda as the province with 22 points, amongst branches and service providing points closed in this first phase. 

It announced that more than 1,600 workers may be made redundant, as the result of the restructuring process. 

The BPC management has committed in preparing an amount  of 18 billion kwanzas to compensate employees, according to the Labor Law.

Tags Angola  

Read also
  • 11/07/2020 13:16:48

    Angola supports new FAO programme

    Luanda - Angola has expressed its support for the new programme and structure of the United Nations Food and Agriculture Organisation (FAO) aimed at transforming it into a more inclusive, innovative, transparent and dynamic institution.

  • 30/06/2020 11:08:14

    BNA to sell US $350 million at auction

    Luanda - Three hundred and fifty million US dollars will be sold in July, through auctions, by the National Reserve Bank of Angola (BNA).

  • 25/06/2020 09:51:59

    Bloomberg system brings real time foreign exchange market

    Luanda - The National Reserve Bank of Angola (BNA) has completed the process of adopting the Bloomberg Electronic Foreign Exchange Trading System (FXGO) and its auction system, with the aim of bringing greater efficiency and transparency to the Angolan foreign exchange market.