Angola’s central bank withdraws small lenders licences

Angola’s central bank set to withdraw the licences of Banco Mais and Banco Postal saying they should both be declared bankrupt. [Photo: Courtesy]

JOHANNESBURG- Angola’s central bank said on Friday it was withdrawing the licences of two small lenders, Banco Mais and Banco Postal, and said they should both be declared bankrupt.

The National Bank of Angola said the two lenders had missed a December 31 deadline for complying with new capital requirements, according to a statement on the central bank’s website.

“The National Bank of Angola decided to withdraw the licences of the said banking financial institutions, which cease, as of this date, their respective activities,” it said.

It said the banks should be declared bankrupt and their respective liquidators should deal with customer deposits, employees and other obligations.

Banco Postal, one of the country’s newest banks that was incorporated in 2016, had assets of just under 14 billion kwanzas ($45.5 million) in the third quarter of 2018.