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Angola central bank to assess commercial banks' assets in 2019

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Angola central bank to assess commercial banks' assets in 2019

Banco Nacional de Angola said Jan. 7 that it will carry out an asset assessment of commercial banks in Angola as part of a memorandum signed with the International Monetary Fund, Macauhub reported.

The move will result in banks having to strengthen their capital levels, according to central bank Governor José de Lima Massano.

The governor told Angop news agency — during a press meeting to announce the revocation of two banks' licenses — that there could also be mergers or closures of banks in 2019, Macauhub reported.

Meanwhile, Banco Postal SA, one of the banks that lost its license, said its financial economic situation does not pose a risk to Angola's banking system or its clients and that it was not bankrupt, Angop reported.