According to a statement released by the bank, the recapitalization "will be carried out exclusively with private capital, through new contributions from shareholders", a measure that "is seen as a sign of confidence in the strategy outlined by the current administration".
This RRP was a requirement of the National Bank of Angola (BNA) to recover the banking institution's prudential ratios and "put the bank on the path to sustainable growth" and must be completed within a period of three years.
The plan, developed by the bank's current management, led by António André Lopes, Chairman of the Board of Directors, and Osvaldo de Lemos Macaia, Chairman of the Executive Committee, was approved by all shareholders at the General Meeting held on January 24, 2025.
The bank, where the president, João Lourenço, once had a minority stake, currently has as its majority shareholders Sansul, a subsidiary of the holding company GEFI, linked to the MPLA, with 51 percent, and Coutinho Nobre Miguel, a member of the party's central committee, with 12.24 percent. The Lwini Foundation, businessman António Mosquito and former First Lady Ana Paula dos Santos are also part of the shareholding structure.
Among the main measures of the recapitalization and restructuring plan, the following stand out: resizing of agencies and optimization of staff, with a reduction of approximately 30 percent of employees, sale of real estate assets not allocated to the core activity, active recovery of bad debts, dynamization of the insurance business and the increase in share capital, exclusively through new contributions from shareholders.
"Overall, the RRP aims to improve profitability and operational efficiency, ensure the bank's long-term sustainability and ensure compliance with the prudential ratios required by the regulator," the statement said.
