The Deputy Governor of the National Reserve Bank of Angola (BNA), Pedro Castro e Silva, has said it is still “very early” to reach a conclusion about the outcome of the case involving the Economic Bank (BE), whose situation is being monitored “carefully,” by the regulator.
Pedro e Silva said the bank’s recapitalisation plan is underway, with the aim to provide the institution with more liquidity to generate profitability to strengthen its capital.
Speaking at a press conference, as part of the 110th session of the BNA Monetary Policy Committee, Pedro e Silva confirmed the resignation of the chief executive of the BE bank, having pointed to the prompt intervention of the Board of Directors and shareholders to appoint a replacement who is familiar with the BE’s restructuring and recapitalisation plan.
At the moment, Silva said, the BNA is closely following the implementation of the plan, which is based on recovering liquidity levels.
The regulator, the BNA, says it is in a phase of corrective intervention with the BE.
Past this phase, from a total of three acting as regulator, an interim administration and resolution may follow.
Minimum share capital
The BNA official said that most of the banks have met the minimum share capital increase of 15 billion kwanzas, as many were already in this position.
Without giving names, he said that there were only two banks (in the recovery phase) that were being monitored by the BNA.
Despite the two banks that are still missing, he said that the increase in the minimum share capital of the banks has been successful.
Source: Angola Press News Agency (APNA)