Francisco Rosado dos Santos, who was speaking this Monday at the presentation of the Initial Public Offering of 25 percent of the bank's shares held by Sonangol, stressed that the bank "takes pride" in managing its non-performing loan portfolio.
"In fact, we have some operations on its balance sheet, which we have been managing, but which are perfectly controlled in terms of the guarantees provided and what the recovery expectations are", he said.
According to him, the bank currently has an impairment level that covers 120 percent of the bank's overdue loans, which gives us a lot of peace of mind to sleep, and on non-performing loans, that is, those that pay off from time to time, but that are structured, of almost 50 percent and that gives us another level of tranquility", said the same official.
Francisco Rosados dos Santos said that this level of default was highly concentrated in 2014 and 2015, but these operations "are being resolved".
And he gave as an example the resolution this year of one of these credits: "We managed to recover 9 billion kwanzas of credit that was in default and, with that, our cost of risk to date is highly negative"
As for the bank's expected performance for this year, he said that the audit process of the half-yearly accounts is currently underway, and that everything points to the path already traced being fulfilled, although he recognizes that there are "various risks" that imply "very conservative" of the bank.
The bank will disperse 25 percent of its capital on the stock market, currently in the hands of Sonangol, so it will soon change its shareholder composition.
The Portuguese State, through Caixa Geral de Depósitos, is currently the largest shareholder in Caixa Angola (51 percent), with the remaining capital distributed by Angolan businessmen António Mosquito and Jaime Freitas (12 percent each), Sonangol EP (24 percent) and Sonangol Holding (1 percent).
The 25 percent share of the capital to be sold is intended for three groups of investors: 15 percent of the capital is destined for current Angolan shareholders, 2 percent for employees and members of governing bodies and 8 percent for the public generally.
