Luanda — Loans with large margin for risks processed by the Angolan BIC bank, are recording an increase on interest rate, said in Luanda the CEO of that insitution, Fernando Teles.

According to Fernando Teles, BIC practice interest rates of 18% per year (market interest), but for some credits of high risk that bank has been rising the rates, mainly consumer credit, due to the fact tha customers, in this period of financial crisis, do not have the capacity to honour their commitments on time.

Although he did not say exactly the percentage, the banker, who spoke Friday to ANGOP about the position recently adopted by the central bank (BNA) aiming to reduce the crisis in the Angolan financial sector, said that BIC is changing some of its interest rates, in accordance with the level of operation risk.

"We have been working on some interest rates, but it depends on the operation risk. Those operations with risks tending to zero we do not touch in the rate", he clarified.

Fernando Teles referred also that other facts that compel BIC to touch on the interest rates, has do to with the depreciation of the national curency (Kwanza) and the increase of the general level of prices (inflation) in the market.

He underlined that BIC will keep on increasing its credit reserve, in order to fulfil its commitments with customers.

Angola National Reserve Bank (BNA) has recently decided to increase its rediscount rate from 20% to 25%, and the mandatory reserve rate from 20% to 30 percent.