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Angola’s Biggest Bank to Sell Bad Loans to Restore Profit
LUANDA (Capital Markets in Africa) – Angola’s biggest bank plans to sell non-performing loans as part of a reorganization to return to profit. Banco de Poupanca e Credito SARL, known as BPC, aims to dispose of 231 billion kwanzas ($1.38 billion) of its unpaid loans to a state-owned company created earlier this year to recover bad debt and free the nation’s banks to lend again, according to Chairman Ricardo Viegas D’Abreu. The lender has also been…
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