President puts an end to BPC board’s term

Luanda – The Angolan president Jose Eduardo dos Santos Thursday in Luanda issued a decree bringing to an end the term of the board of directors of the Savings and Credit Bank (BPC).

According to a press note from the President’s Office, the presidential decree follows the recent approval by the BPC’s General Assembly of changes to its organisational structure and governance.

Therefore, the BPC will be counting as from 24 May this year on a new board of directors, headed by the economist Ricardo de Abreu, following a decision from an assembly of shareholders.

The assembly has also decided to have the bank’s capital increased by Akz 90 billion (Usd 1 is Akz 160).

According to the shareholders’ decision, the increase by Akz 90 billion of the bank’s capital mostly held by the State with 75 percent, will be done by all stakeholders, in line with their participation proportions.

Source: Angola Press News Agency