José de Lima Massano spoke to journalists during the presentation this Friday, in Luanda, of the decisions taken at the ordinary meeting of the Monetary Policy Committee (CPM) of the National Bank of Angola, which analyzed the recent behavior of the main economic indicators and decided on key rates to influence price stability in the economy.
According to the central bank governor, this is an issue that he has heard in several forums, as a general rule with banks alleging situations related to credit risk management.
"In our communications, including Notice 10 in its terms, we say that commercial banks must grant credit responsibly, it is in our standard," said José de Lima Massano, stressing that despite the recognized difficulties in the general progress of the economy , of the business environment, "there is a great effort to overcome these limitations".
The BNA governor stressed that it is unfair to place the same labels, which "are not serious and are not worthy of any support", to all companies and managers, who develop their activity in the national market, as there are those that even in the current difficult context "have known how to deal with letters".
"We don't understand how a large commercial bank finds it difficult to identify 20 or 25 credit projects in 12 months. Something is not going well! Because the companies are there, they are working and with some support they can make other leaps ", stressed.
The same appeal for granting credit with responsibility transmitted to banks, continued José de Lima Massano, has also been a lawyer to those applying for credit.
"We do not want to have a financial system disconnected from the reality of our economy, the country we are in, and we have already taken several initiatives to improve the perceived credit risk, also by operators. And this is how in this context we have to move forward, we are not asking for anything extraordinary ", he said.
In regular meetings with commercial banks, said the BNA governor, they have expressed concern and willingness to help develop the economy, being actively looking for projects.
"And because of that, we also made the decision to extend the deadline until April, because we realized that by December we had a considerable number of projects in the process of being formalized and that, making the cut at that time, these projects might not be considered for the minimums we imposed, but fortunately, things have been happening and this is felt in the day-to-day lives of many companies, spread across the country ", he stressed.
José de Lima Massano praised the execution of Notice 10, which allowed credit to "come to life".
"Because we had some banks that practically did not make credits, the money went to public debt and foreign exchange. We practically no longer had credit", stressed the BNA governor, stressing that it was with surprise that they realized that some banks had great weaknesses in the processes credit analysis, had no specialists, had no areas to deal with credit.
"And it is clear that this also concerns us. If this intermediation function is key, even more so in a context where the economy needs such support, we found that some banks did not have specialized areas to analyze credit, because our theme has been stability of the financial system as a whole ", he recalled.
In order to increasingly mitigate credit risk, structural measures are being taken to improve risk management capacity in the economy, with the recent approval of the Insolvency and Company Recovery Laws and also the Legal Guarantee Regime Furniture.
"We also took other initiatives, such as the private credit information center, which we should have this year in 2021 the first to work. It will allow financiers, creditors, to have more information about debtors, not just the one that is submitted, of accounts, but if you pay taxes, water and electricity, if you have a different debt nature, we will have this in a database and it will increase security ", he added.
