News Column

Angolan Banking System Depends On Oil Sector

July 1, 2014

The Banking System is fundamental for Angolan Economy, despite of depending mostly on oil sector, as being the depositor of financial resources, affirmed on Monday in Luanda, the chairperson of Interbanking Services Company (EMIS), JosÉ Gualberto Matos.

The official, who was speaking in the seminar on the regulation of telecommunication sector under motto "The role of communications in the economic growth", JosÉ Matos said that the banking System at national level has been growing satisfactorily and the growth of credit will also facilitate the total independence of banks on oil sector.

JosÉ Matos said that, in the last six years, the banking sector boosted in terms of loans by growing from AKZ 600 billion, in 2013, to 1.431 billion in 2013.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters