Ver Angola

Banking and Insurance

Central bank says extrajudicial agreement with Banco Postal aims to “accelerate settlement”

The governor of Banco Nacional de Angola (BNA) confirmed on Friday the extrajudicial agreement with Banco Postal, after giving up, via the Public Ministry, the legal action against the institution, whose license was revoked in 2019, to “accelerate its sale off".

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"In relation to Banco Postal, an understanding was reached on the way to speed up the liquidation of this bank and, with that, also to meet the conditions so that, more quickly, workers, suppliers and other entities with credits on the bank can see their rights taken care of", said the governor of the BNA, José de Lima Massano, questioned by journalists.

A judgment by the Luanda District Court, ratified on January 25, 2022 and cited by Novo Jornal, states that the Public Prosecutor's Office dropped out of the process, a matter presented on Friday during a press conference of the Monetary Policy Committee of the BNA.

According to José de Lima Massano, the central bank, which in 2019 declared bankruptcy of the banking unit, is "very happy" with this outcome (extrajudicial resolution) "for finally this process has this final phase that will also calm the people concerned, particularly the their former workers".

The BNA, in January 2019, announced the compulsory closure of two private banks, such as Banco Mais and Banco Postal, due to insufficient share capital, with banking licenses having been revoked and a declaration of bankruptcy required for both.

In a statement sent to Lusa at the time of the facts, the BNA guaranteed that it had "taken measures" so that "the Attorney General of the Republic requested the declaration of bankruptcy" of the aforementioned institutions, with the judge of the District Court of Luanda.

However, Banco Postal's shareholders denied, on the occasion, the "bankruptcy and insufficiency of share capital", expressing "deep disagreement" with the "wounded measure of illegality" announced by the central bank, guaranteeing "recourse to judicial bodies".

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