Ver Angola

Banking and Insurance

Lima Massano: Private information centers will improve access to credit

The governor of the National Bank of Angola (BNA) defended the granting of credit “responsibly” and stressed that the entry of private centrals will help improve credit risk management and access to loans.


José de Lima Massano, who was speaking in Luanda, at the presentation of the study "Banking in Analysis 2022", by the consultancy Deloitte, underlined that the BNA wants a more competitive and inclusive banking sector, to respond to the dynamics of the economy and continues to advocate the concession credit card responsibly.

"We recognize that the quality of information provided by customers, especially accounting and financial information, is often not sufficient to allow a rigorous assessment of credit requests, an insufficiency very present in small and medium-sized companies", said the official, urging the companies to improve this information to enhance access to credit.

In the case of large-scale business initiatives, he recommended that financing through capital market instruments be considered, noting that the recent successful entry of BAI and Caixa Angola on the stock exchange shows an "interested, and perhaps avid" market of this type. of solutions.

As for the individual segment, he addressed the recent regulation on mortgage loans, recognizing the difficulties that occur, either due to the income levels of the beneficiaries or the constraints associated with the legalization of real estate.

On the other hand, he hopes that "in the immediate future, it will be possible to witness the entry into operation of private credit information centers, to improve credit risk management".

In fact, more credit to individuals, in a broad and safe way, "is only possible with quality information on the real financial capacity of each one", underlined Lima Massano.

Centrals have this responsibility and would gather information on the behavior of each citizen from service providers, banks or commercial establishments that offer installment payments.

"With this additional information, which the banks currently do not have, it will be safer and less expensive to grant and, consequently, obtain credit", considered the governor of the BNA, indicating that this was what happened in other countries, namely in terms of consumer credit.

In the context of mobile payment services, Lima Massano said that they will start to operate, under the Quick brand, through a platform that guarantees the interoperability of operators.

In an assessment of the measures taken in the last five years, the head of the BNA also spoke about the "imbalances" of the economic context in 2017 and the measures that were taken, namely in the foreign exchange market and restructuring of banks, among others.

He also highlighted that, in the last 12 months, the BNA has advanced with a new model of prudential supervision, with analysis and assessment of the inherent risks of each banking institution, and highlighted that the current legislation is convergent with that of the euro zone.

The measures and regulatory changes resulted in adjusting the major imbalances that were taking place, said the governor of the BNA, stressing that the deceleration of inflation and the normal functioning of the foreign exchange market are part of this path.

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