Angola: BPC Bank Closes 106 Counters As From 13 July

Luanda — About 106 Banco de Poupança e Crédito (BPC) service counters, including agencies/posts and transfer agencies, will be closed from next 13 July in several provinces of the country.

The measure, confirmed this Tuesday in a bank statement published in the daily Jornal de Angola, is part of the institution's restructuring and recapitalisation programme.

It will cover branches/calls and transfer agencies in municipalities in the provinces of Luanda, Cunene, Kwanza Sul, Benguela, Huila, Namibe, Cuando Cubango, Malanje, Uige, Cabinda, Lunda Sul, Moxico and Bengo.

According to the BPC statement, in Luanda province alone, the capital of the country, more than 22 locations will be closed, between agencies/posts and transfer agencies.

This step marks the beginning of the process of dismissal of staff at the country's largest public bank, which has seen its assets deteriorate in the last seven years, with accumulated losses, until December 2019, of 404.7 billion kwanzas.

The reduction in staff is the result of a series of measures adopted to reduce operating costs, which are currently far higher than profits, according to its chairman André Lopes, in a recent message to employees.

Given the country's context and BPC's social responsibility, André Lopes promised a process of gradual dismissal by mutual agreement with those covered by the measure.

The redirection of the workforce, he assured, will obey the modalities of early retirement, "outsourcing" of auxiliary services, extinction of jobs, resulting from the closure of agencies, and contractual termination by mutual agreement.

As aware of the difficult moment facing the country and taking into account BPC's social responsibility, the management board proposes to reward each employee affected in this process, through a package of compensations and benefits.

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