Ver Angola

Banking and Insurance

Banco de Portugal and BNA carried out 15 cooperation actions this year

The deputy governor of the Bank of Portugal (BdP), Luís Máximo dos Santos, announced that this year the institution carried out 15 cooperation actions with the National Bank of Angola, with nine more actions planned by the end of 2022.


"This year, we have already carried out fifteen actions – and we are still going at the beginning of June – with nine more actions planned by the end of the year. These figures demonstrate the broad scope of cooperation between the two central banks, its permanent nature and the clear awareness of its advantages for the two institutions", said Luís Máximo dos Santos, during an intervention at the Colloquium "New Cycle of the Angolan Economy", in Lisbon, published on the institution's website.

In the initiative organized by the Chamber of Commerce and Industry Portugal – Angola, the deputy governor of the Portuguese banking supervisor also recalled that last year, at the bilateral level, the BdP carried out eighteen cooperation actions, which mobilized 16 departments of the regulator, from supervision prudential and behavioral policy, financial stability and monetary policy or payment systems.

"The National Bank of Angola is one of the most active participants in this dialogue and in the dynamic initiatives, both bilaterally and multilaterally", he stressed, noting that the two central banks have deepened their technical and institutional cooperation relations in the various fields of their assignments.

Máximo dos Santos stressed that Portugal has consistently remained among the three main suppliers of goods to Angola and that, in terms of bilateral investment, "the sustained increase in Angolan direct investment in Portugal is notorious".

"And the largest share of this investment, as well as Portuguese investment in Angola, corresponds to the financial sector", he stressed, adding that "this relationship also justifies that Banco de Portugal is particularly attentive to developments in the Angolan financial sector and the respective regulatory framework. and institutional".

Luís Máximo do Santos also said that, after the crisis caused by the pandemic, the war in Ukraine brings "many uncertainties" to the macroeconomic scenario, however, it could lead to a new "look" at bilateral relations between the two countries.

"The geopolitical framework will certainly be different from what we had before the war, which could provide a new look at the economic relations between Portugal and Angola and the advantages that they can bring to the two countries and their respective peoples", he said.

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