Luanda — The Angolan Saving and Credit Bank (Banco de Poupança e Crédito) (BPC) recorded profits of around 18.9 billion kwanzas in the second quarter of this year, results that show signs of recovery of this financial institution, after many years of consecutive losses.

In the first quarter of this year, BPC, a public bank, had a closing of 1.1 billion kwanzas, according to the the Chairman of the Board of Directors, Cláudio Pinheiro, who considered the result as "very exceptional".

Cláudio Pinheiro told press that the Bank is conferring strengthened decision-making mechanisms, zero-tolerance policy towards deviant conduct and ironclad labour discipline, which has allowed bringing this public financial institution to lower costs and an operational structure that meets the ability to generate revenues.

With these gradual positive results, Cláudio Pinheiro expects the Bank to move from the 25th to the 5th position in the banking sector in terms of financial results later this year.

In the field of deposits, he said he was working on improvement, which has already allowed a certain "blurring" of liquidity.

"In terms of deposits we are saying that today, the bank, by the level of quality of service allows it to gradually recover the average balances of deposits," he said.

On the other hand, Cláudio Pinheiro added, the design of more credit criteria, especially the segment of loans to individuals, is intended that any citizen of this country can opt for BPC as a service solution.

He added that the bet is to improve its products, differentiating itself from other banking services in the market.

The BPC currently has 270 branches/branches in the 18 provinces of the country. NE/PPA/DOJ