Luanda – Commerce and Industry Bank (BCI) increased its capital by around Akz 15 billion, in what it claims that the move is part of restructuring plan sent to National Bank of Angola (BNA) on December 31, 2022.
BCI’s shareholders complied, as part of the deadline set by the macro-prudential regulatory authority, with the requirement to increase its capital, with the submission of the Restructuring Plan, according to a note reached ANGOP Thursday.
“The Plan forwarded to the National Bank of Angola foreseen the implementation of a capital increase of around Akz 15 billion, made before the last day of 2022”, the text of that private banking entity reads out.
The current management of BCI, which started in June, found ratios standing at negative Akz 16 billion reported in the quarterly balance sheet.
However, in the last quarter of 2022, the situation reversed to a positive billion, before the audit was carried out, underlines the BCI statement.
The note informs that currently investment in CAPEX needs (investments or disbursements in capital goods) is already around Akz 5 billion, which totals Akz 36 billion equivalent) in investment so far by the shareholder.
Founded in 1991, BCI was managed by the Angolan State until 2022, when it was sold to a private entity, under the Privatisation Programme (PROPRIV) launched by the Institute for the Management of State Assets and Participations (IGAPE).
PROPRIV was created with the aim of reducing State intervention in the economy and promoting business development.
Source: Angola Press News Agency