Banco de Poupança e Crédito Understanding Saving and Credit Services

Banco de Poupança e Crédito offers a range of saving and credit services that can help individuals achieve their financial goals.

Their savings account, known as the Poupança account, allows customers to earn interest on their deposited funds, with interest rates varying depending on the account type and term.

The bank also provides a variety of credit options, including personal loans and credit cards, that can be used for emergencies, large purchases, or everyday expenses.

By offering these services, Banco de Poupança e Crédito aims to empower customers to take control of their finances and make informed decisions about their money.

The market and shareholding dynamics of Banco de Poupança e Crédito (BPC) are quite interesting. The bank's ownership structure has undergone significant changes, particularly after the restructuring in 2016.

As of 2016, the Angola Ministry of Finance held a 75% stake in BPC, followed by the Angola National Social Security Institute with 15%. The State Assets and Participations Institute (IGAPE) had no ownership share at that time, but it's expected to hold a 37.3% stake by 2022.

Here's a breakdown of the expected shareholding structure in 2022:

The Banco de Poupança e Crédito (BPC) has made significant progress in the market, becoming the bank with the largest number of deposit accounts in national currency, the largest network of branches, and the largest number of clients.

This is a testament to the bank's solid reputation and strong market position.

The BPC has a long history of stabilizing and establishing itself as a major player in the Angolan banking sector.

It has built strong relationships with other banks in the country, participating in various interbank relationships and directly supporting financial projects and investments.

Internationally, the BPC is expanding its relationships with foreign institutions, allowing it to make financial applications and operate on behalf of its clients who conduct business in other markets.

BPC's shareholding has undergone significant changes, with the Angola Ministry of Finance holding the largest stake in 2016. The ministry's share dropped to 53.3% by 2022.

The table below illustrates the shareholding in BPC in 2016 and the expected shareholding in 2022.

The Angola National Social Security Institute's share decreased from 15% in 2016 to 5.6% by 2022.

At Banco de Poupança e Crédito, you have several options to save money and earn interest. Poupança Aforro allows you to start saving from 25€ and can be increased whenever you want.

The bank offers different terms for its savings options, with Poupança Aforro having a 180-day term. Poupança Reforço Prestige, on the other hand, has a 360-day term and requires a minimum deposit of 250€.

You can also choose the Net Millennium Flexível option, which allows you to save between 250€ and 500,000€ with a term of 15 to 360 days.

The Banco de Poupança e Crédito, S.A.R.L has a long history of innovation, dating back to 1991 when it was established as part of the government's efforts to revamp the old BPA.

It's now known as BPC, and has become a leading bank in Angola, offering a wide range of financial services to its clients. The bank has a highly competent team that is able to adapt to changing times and circumstances.

With a strong focus on development and service, the BPC has become a trusted name in the country. Its flexibility and commitment to excellence have made it a credible institution.

Today, the BPC offers a variety of competitive financial products and services to its clients and the Angolan community.

Poupança Aforro is a great option for those who want to start saving with a minimum amount of 25€. This means you can start building your savings even with a small budget.

The term "Aforro" implies a focus on saving and accumulating funds over time, which is perfect for long-term goals. You can reinforce your savings whenever you want, making it a flexible option.

One of the benefits of Poupança Aforro is that it has a relatively short term of 180 days, giving you a sense of accomplishment and motivation to continue saving. This timeframe is also relatively short compared to other savings options.

You can start saving with a minimum of 25€, making it accessible to a wide range of people. This minimum amount is also mentioned in other savings options, such as Poupança Ordenado and Net Millennium Flexível.

Poupança Aforro is a great option for those who want to start saving with a small amount and can reinforce their savings over time.

You can start saving money with Banco de Poupança e Crédito, and they offer different options to suit your needs.

Their Poupança Ordenado plan allows you to save with a 2% interest rate when you receive your salary at Millennium, and the minimum amount you need to save is 25€.

If you have children under 17, you can save for them starting from 25€ with the Poupança Reforço Prestige plan, which also offers a better interest rate for Prestige customers.

The Poupança Reforço Prestige plan has a 360-day term, and you can save as little as 250€ to get started.

All of their savings plans can be mobilized before the term ends, but be aware that there are penalties involved.

Banco de Poupança e Crédito, or BPC, had a huge problem with non-performing loans, with the ratio ballooning from 4.5 percent in 2016 to 23.2 percent in 2017.

The government of Angola created a public entity called Recredit to buy bad loans from BPC, initially capitalized with $2 billion, and later borrowed $3.5 billion from the International Monetary Fund to further recapitalize Recredit.

BPC had to let go of 1,600 employees, either through retirement, early retirement, or termination, reducing the number of employees from 4,820 to 3,220.

The terminated employees received a generous package, including 6 months of family health insurance, loan forgiveness for loans below $40,500, or reduction of interest rates for larger loans, free tuition for two professional courses, and cash severance payments of $16,000.

In August 2020, the first group of 156 employees were terminated and 53 service points closed, with another 120 employees expected to be released soon and 11 service points closed.

The government's efforts to reorganize and recapitalize BPC have been significant, involving a major restructuring of the bank's operations and workforce.