Ver Angola

Banking and Insurance

Banks approved 365 billion kwanzas in credits in April

Angolan banks granted ten new credits to the real sector of the economy in April, for a total of 224 credits representing a financial value of 365 billion kwanzas, according to a note from the National Bank of Angola (BNA).

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Of the 224 credits granted, 170 already have actual disbursements, under the notice 10/2020, which obliges commercial banks to finance the economy, namely projects under PRODESI (Program for the Diversification of Exports and Replacement of Imports), indicates the BNA .

Regarding the financial value, the credit granted corresponds to a total of 365 billion kwanzas, having been disbursed in the amount of 263 billion kwanzas, which represents an increase of 5.90 percent compared to March 2021.

In general terms, until April 2021 the financial amount approved by the banking sector corresponds to 205.03 percent of the minimum established in the BNA standard on credit to the real sector of the economy, while the amount actually disbursed corresponds to 147.50 percent of the minimum amount to be granted until April 2021.

Only 15 of the 20 banks that make up the national financial system have complied with the requirement to provide credit at a minimum limit of 2.50 percent of their net assets, a number that has remained unchanged from March 2021.

The 224 approved projects correspond to 48.70 percent of the established minimum.

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