Banco de Poupança e Crédito
Encyclopedia
Banco de Poupança e Crédito (english
: Savings and Credit Bank) is a government-owned, full service bank in Angola
. With some 68 branches, including one in Cabinda
, it has the largest branch network in the country.
, but with half the shares being in the hands of the Belgian
Banque de Bruxelles. It immediately opened an office in Luanda
. The bank transferred its head office to Luanda in 1967. Later the bank was owned by the Banco Português do Atlántico.
In 1971, Barclays Bank received shares in Banco Português do Atlántico in return for contributing its branches in Mozambique
to Banco Comercial de Angola.
After independence in 1975, the Angolan government nationalized the bank and changed its name to Banco Popular de Angola. At about the same time, the government in São Tomé and Príncipe
nationalized its branch in that country, incorporating it into what is now the Central Bank of São Tomé and Príncipe
. Banco Comercial de Angola also had an office in Macau
that in 1974 became Banco Comercial de Macau, as a subsidiary of Banco Português do Atlántico. The Government of Mozambique nationalized the operations there belonging to the bank, incorporating them into the Banco de Moçambique.
In 1991, the government changed the name of Banco Popular de Angola to the present name Banco de Poupança e Crédito.
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
: Savings and Credit Bank) is a government-owned, full service bank in Angola
Angola
Angola, officially the Republic of Angola , is a country in south-central Africa bordered by Namibia on the south, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on the Atlantic Ocean with Luanda as its capital city...
. With some 68 branches, including one in Cabinda
Cabinda (city)
Cabinda or Tchiowa, as it is called by the Cabindans, is a city that is located in the Cabinda Province, an exclave of Angola. Angolan sovereignty over Cabinda is disputed by the Republic of Cabinda...
, it has the largest branch network in the country.
History
In 1956 the Banco Comercial de Angola was founded in LisbonLisbon
Lisbon is the capital city and largest city of Portugal with a population of 545,245 within its administrative limits on a land area of . The urban area of Lisbon extends beyond the administrative city limits with a population of 3 million on an area of , making it the 9th most populous urban...
, but with half the shares being in the hands of the Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
Banque de Bruxelles. It immediately opened an office in Luanda
Luanda
Luanda, formerly named São Paulo da Assunção de Loanda, is the capital and largest city of Angola. Located on Angola's coast with the Atlantic Ocean, Luanda is both Angola's chief seaport and its administrative center. It has a population of at least 5 million...
. The bank transferred its head office to Luanda in 1967. Later the bank was owned by the Banco Português do Atlántico.
In 1971, Barclays Bank received shares in Banco Português do Atlántico in return for contributing its branches in Mozambique
Mozambique
Mozambique, officially the Republic of Mozambique , is a country in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west and Swaziland and South Africa to the southwest...
to Banco Comercial de Angola.
After independence in 1975, the Angolan government nationalized the bank and changed its name to Banco Popular de Angola. At about the same time, the government in São Tomé and Príncipe
São Tomé and Príncipe
São Tomé and Príncipe, officially the Democratic Republic of São Tomé and Príncipe, is a Portuguese-speaking island nation in the Gulf of Guinea, off the western equatorial coast of Central Africa. It consists of two islands: São Tomé and Príncipe, located about apart and about , respectively, off...
nationalized its branch in that country, incorporating it into what is now the Central Bank of São Tomé and Príncipe
Central Bank of São Tomé and Príncipe
Central Bank of São Tomé and Príncipe is the central bank of the Democratic Republic of São Tomé and Príncipe.-History:...
. Banco Comercial de Angola also had an office in Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
that in 1974 became Banco Comercial de Macau, as a subsidiary of Banco Português do Atlántico. The Government of Mozambique nationalized the operations there belonging to the bank, incorporating them into the Banco de Moçambique.
In 1991, the government changed the name of Banco Popular de Angola to the present name Banco de Poupança e Crédito.