BPC, which had a bad debt portfolio of more than one billion euros, in the meantime handed over to asset manager Recredit, recorded in 2020 the biggest loss ever in banking history with more than 700 million euros of losses.
The Recapitalization and Restructuring Plan (PRR) that runs until 2023 provides that 880.1 billion kwanzas will be needed to capitalize the bank, of which 163.7 billion are from its largest shareholder, the Ministry of Finance, in the form of securities, while IGAPE (Instituto de Gestão de Ativos e Participações do Estado) injected 396 billion in securities and 15 billion in cash.
The agenda of the general meeting has five points, and the 2021 accounts must be approved and the activity plan and budget for 2022 must be presented, in addition to the approval of the Balance Report regarding the degree of execution of the PRR.
A proposal for the adequacy of the governance model will also be presented, with a review of some articles of the statutes of the financial institution whose shareholders are the Ministry of Finance (53.3 percent), IGAPE (37.3 percent), Instituto Nacional de Segurança Social (5.6 percent) and Caixa das Forças Armadas Angolanas (3.7 percent).
