Banco de Poupança e Crédito (BPC), Angola's sole government-owned commercial bank, plays a vital role in the country's economic development. Based in Luanda, BPC is recognized as a systemically important financial institution, boasting the widest branch network in Angola. The bank handles government salaries, pensions, and social transfers, and has historically engaged in policy lending across agriculture, housing, and small-business development.

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In recent years, BPC has expanded its offerings to include digital banking, payment services, corporate banking, investment products, and customized financial solutions for a diverse range of customers. The bank is committed to digital transformation, launching various platforms including online and mobile banking, as well as electronic payment systems. Despite facing challenges such as nonperforming loans, BPC remains a cornerstone of the Angolan banking sector.

Public ownership enables BPC to participate in strategic government initiatives aimed at enhancing financial inclusion, advancing infrastructure, and improving access to credit for businesses. The bank's modernization efforts illustrate its commitment to improving customer relationships and increasing financial access in urban and rural areas. Recognition for its innovations in retail banking and social initiatives has accompanied ongoing financial restructuring and branch optimization.

Mr. Luzolo de Carvalho, BPC's CEO, recently discussed the bank's transformation journey with International Banker.

He highlighted that one of the significant achievements has been reconciling the bank's cost structure with its revenue generation capacity, leading to a return to positive results anticipated for 2024 after eight years of losses. Strengthening the governance model, modernizing technology, and restoring stakeholder confidence were also pivotal to the transformation. BPC is now profitable and stable, focusing on enhancing customer experiences.

De Carvalho expressed pride in operational and commercial growth, reporting a 154-percent increase in transactions at automatic payment terminals within a year. He emphasized the empowerment of human capital as a critical factor in overcoming daily challenges.

Transforming BPC's culture to embed innovation and customer-centricity has been essential. The bank prioritizes a meritocratic culture, supporting employee development, skills enhancement, and strategic compensation initiatives. As a result, BPC's cultural transformation aligns teams with established goals, fostering responsibility within the organization.

BPC's Information Systems Modernisation Programme (PMSI) marks a generational leap, transitioning from outdated systems to a real-time, componentised, API-native platform. This transformation will fundamentally change banking operations, enabling quicker processes and allowing clients to enjoy faster payments, improved account visibility, and a seamless experience across digital and branch channels.

BPC is also focusing on leveraging customer data to enhance product offerings while ensuring privacy. Investments in modern technology, data protection, and automation are central to this strategy. The bank aims to deliver better customer service through data-driven decision-making.

As a public institution, BPC blends traditional banking with digital solutions to ensure financial access for all Angolans. The bank continues to serve remote areas while steadily increasing its digital customer base, responding to evolving preferences.

In supporting small and medium-sized enterprises (SMEs), BPC offers credit and free payment tools, alongside developing initiatives such as a reward model linked to transaction revenues. BPC collaborates with the government on subsidized loans for affected businesses, ensuring access to banking services across the country.

Customer feedback is integral to BPC's strategy, influencing product development through various channels. For instance, traders' input led to adjusting daily transaction limits in digital channels.

Despite challenges in accessing finance, including economic informality and insufficient collateral quality, BPC is refining its credit strategy to balance risk management with support for economic growth. The bank focuses on sustainable lending practices that contribute to diversifying Angola’s economy.

BPC continues to set an ambitious path for its future under the leadership of Mr. Luzolo de Carvalho, committed to enhancing financial access and resilience in Angola.