Ver Angola

Banking and Insurance

Credit to the non-financial sector increased by almost 30 percent in May to 6.7 billion kwanzas

Gross credit to the non-financial sector increased by 28.6 percent in May to 6.7 billion kwanzas, with the largest share going to the private sector, according to the National Bank of Angola (BNA).

: Lusa

The BNA's statistical information note on credit indicates that companies and individuals absorbed 90 percent of the credit, with the remaining portion distributed by the public sector (public administration and public companies).

The stock of credit to the economy, in national currency, reached 4.8 billion kwanzas in May, having registered an increase of 256.8 billion kwanzas in the first five months of this year.

The debt of the non-financial public sector increased by 41.7 percent compared to the same period last year and that of companies and individuals, by 27.19 percent.

In May 2024, gross credit to the real sector of the economy totaled 1.30 billion kwanzas, 3.27 percent more than in the same month "mainly driven by the significant reinforcement in the "Extractive Industries" subsector", says the note consulted by Lusa.

The total credit granted under Notice No. 10/2022 of the BNA for the promotion of the Real Sector reached 1.10 billion kwanzas, representing 84.60 percent of the total credit granted to this sector and 16.90 percent of the banking system's gross credit portfolio.

Compared to the same period last year, there was a significant increase of 223.13 billion kwanzas (25.41 percent), driven mainly by the financing of projects in the manufacturing subsector.


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