Ver Angola

Banking and Insurance

Next BPC restructuring phase dismisses 120 employees and closes 11 branches

It was this Monday that the Bank of Savings and Credit (BPC) started the phase of termination of employment relationships with workers, part of the process of resizing and restructuring the financial institution.

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At the beginning of the week, 156 employees saw their contract with the bank reach a forced end. Dismissed following the closure of 53 service stations, workers have already begun to receive compensation in accordance with the General Labor Law.

According to statements by the director of the Marketing and Communication office of BPC to Angop, the bank guarantees that the amount of legal compensation, employees will receive an increase of 25 percent. In addition, those who will have asked the institution for credit - up to a limit of 25 million kwanzas - will be forgiven and those who deal with an amount above this amount will see their subsidized rate.

To the former employees, the bank will also grant credit possibilities in the amount of 10 million kwanzas for business investments, after presenting a project.

In addition, the bank assumes the payment of two professional training courses for each former worker and will maintain health insurance for employees and family for another six months.

"These benefits are much higher than those indicated in the General Labor Law", says the person in charge of the institution.

After years of accumulated losses, which in December were around 404.7 billion kwanzas, the bank will close several branches and lay off more than 1600 workers, as part of an awaited restructuring process.

Remember that the BPC is owned by the State.

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