Banco de Poupança e Crédito

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Banco de Poupança e Crédito (English: Savings and Credit Bank) is a government-owned, full service bank in Angola. With some 68 branches, including one in Cabinda, it has the largest branch network in the country.

History[edit]

In 1956 the Banco Comercial de Angola was founded in Lisbon, but with half the shares being in the hands of the Belgian Banque de Bruxelles. It immediately opened an office in Luanda. The bank transferred its head office to Luanda in 1967. Later the bank was owned by the Banco Português do Atlántico.

In 1971, Barclays Bank received shares in Banco Português do Atlántico in return for contributing its branches in Mozambique to Banco Comercial de Angola.

After independence in 1975, the Angolan government nationalized the bank and changed its name to Banco Popular de Angola. At about the same time, the government in São Tomé and Príncipe nationalized its branch in that country, incorporating it into what is now the Central Bank of São Tomé and Príncipe. Banco Comercial de Angola also had an office in Macau that in 1974 became Banco Comercial de Macau, as a subsidiary of Banco Português do Atlántico. The Government of Mozambique nationalized the operations there belonging to the bank, incorporating them into the Banco de Moçambique.

In 1991, the government changed the name of Banco Popular de Angola to the present name Banco de Poupança e Crédito.

External links[edit]