History of the BPC

Banco Comercial de Angola the founder

Banco Comercial de Angola, SARL (BCA) became the first original bank to open in Angola, on 24 January 1956.
At first its administrative headquarters were in Lisbon, on Avenida Fontes Pereira de Melo, 19-2º, and its principal place of business was in Luanda, on Rua Rainha Nzinga, where the Centro de Imprensa Aníbal de Melo is located today.
BCA built a new headquarters in Luanda, which opened on 28 January 1967, on the occasion of its 10th anniversary.

25 April 1974

The changes to the political landscape wrought in Portugal with the 'Captains' movement' of 25 April 1974, culminated with the fall of the Salazar regime.
This brought about significant changes in Portugal's colonies in general and in Angola in particular, which became independent on 11 November 1975.
One consequence of this momentous event was the flight of capital out of the country.
Before any bank was established in Angola, the action of 14 August 1975 nationalized the banks ('Tomada da Banca'), placing private banks under the direct control of the Angolan state.

Coordination Committee for Banking

Given the situation at the time, the Coordination Committee for Banking - CCAB was created by Joint Order 80/70 of the Ministries of Planning, Finance and the Economy by which the commercial banks were managed by Management Boards.
The CCAB guided the destiny of banking until the assets and liabilities of the Banco de Angola (BA) were confiscated and the Banco Nacional de Angola was created via law 69/76 of 5 November.
Law 70/76 of 10 November established the Banco Popular de Angola (BPA).

National Bank of Angola (BNA - Banco Nacional de Angola), the central bank

From 1991 the government started to implement reforms of the financial sector and passed new legislation that established a two-tier banking system.

The laws in question are 4/91 - National Bank of Angola Organic Law, and 5/91 - Financial Institutions Law, which ended the state monopoly in the financial sector. The new organic law institutionalized the BNA as the central bank of a two-tier banking system. It was established as the monetary authority and agent of the exchange authority and separate from commercial functions, while the financial institutions law regulated the credit functions and constitution of other private, national or foreign institutions.

Two more commercial Angolan banks then joined the national banking system. They were set up as publicly owned limited companies, Banco de Poupança e Crédito (BPC, formerly BPA) and Banco de Comercio e Industria.

BPA became Banco de Poupança e Crédito, SARL under Decree 47/91 of 16 August 1991, issued by the Council of Ministers of the Republic of Angola.

Banco de Poupança e Crédito

This is the country's largest commercial bank, having branches in every province of Angola. 1956 - 1975: Banco Comercial de Angola 1975 - 1991: Banco Popular de Angola 1991 - 2004: Banco de Poupança e Crédito