Banks have lost more than 4,000 jobs in the last five years

Image: DR

4,191 bank employees have become unemployed in the last five years, as a result of restructuring or closure processes in the institutions to which they were attached. The numbers may increase in the coming months, as a result of the reforms underway in some banking institutions.

Banco de Poupança e Crédito (Savings and Loan Bank), which has been restructuring for some time and has closed several branches, leads the list of redundancies, with 1648 posts. In 2017 the public bank had 5,490 employees, a figure that has fallen to 3,882 in 2021.

Banco Económico (Economic Bank), which resulted from the transformation in 2014 of the former Banco Espírito Santo Angola (BESA) (Espirito Santo Angola Bank), lost 500 jobs in the period under review. It is followed by Banco Millennium (Atlântico Millennium Atlantic Bank), which in the last few months alone has closed 10 branches, with 337 and then Banco Africano de Investimentos (BAI) (African Investment Bank) which has laid off 81 employees.

To these figures are added others that resulted from the closure of several banks in 2019, due to loss of license. As a result, around 800 bankers attached to Banco Postal (Postal Bank) have lost their jobs. At Banco Mais (More Bank) the number amounts to 500 posts, at Banc 199 and at Kwanza Bank 192.

With new owners, Banco de Comércio e Industria (BCI) (Trade and Industry Bank) is in a process of reform. It is not known exactly how many staff may be disengaged.

08/08/2022