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The National Bank of Angola (BNA) has revoked the banking licence of Banco Angolano de Negócios e Comércio (BANC) because of “serious technical problems” that it said put the institution in “technical bankruptcy”.
At a news conference on Tuesday, the central bank’s governor, José de Lima Massano, said that “shortcomings in the governance model” at the bank had been detected, with “risks that were large and poorly managed”.
Moreover, the “replenishment of the share capital was not put forward by the shareholders,” he stressed, adding that the decision to revoke the bank’s licence was taken at an extraordinary meeting of the BNA on 29 January.
BANC’s “deposits will be guaranteed and will be returned to customers as soon as the attorney-general’s office, to which the BNA has sent the case, issues a ruling in which it will give the BNA itself the comission to liquidate” the bank, the governor said.
This is the third bank to have its licence revoked in recent months, after Banco Mais and Banco Postal.
BANC’s main shareholder is Kundi Paihama, one of Angola’s most senior generals and a former minister of defence and former governor of Cunene province.
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