RECREDIT – Gestão de Activos recovered approximately 31.19 billion kwanzas in 2024, achieving 109% of the year’s recovery target, according to Chairman of the Board, Valter Barros, during the presentation of the company’s annual results in Luanda.
Barros reported a net income of Kz 48.52 billion, with total assets amounting to Kz 283.83 billion.
Executive Director Sander Coelho highlighted that RECREDIT’s credit portfolio comprises Kz 136.41 billion under negotiation (47%), Kz 88.51 billion in litigation (31%), Kz 52.75 billion from signed agreements (18%), Kz 7.49 billion in liquidated processes (3%), and Kz 3.02 billion in write-offs (1%).
He explained that the total portfolio was acquired from Banco de Poupança e Crédito (BPC) for Kz 288 billion, of which Kz 108.4 billion (38%) has been recovered to date.
Out of 476 credit cases, 337 have been negotiated—either paid off or in the process of being settled. Of the 139 cases in litigation, 47 have proceeded to court.
Coelho noted RECREDIT’s average operational revenue growth rate was 126% from 2020 to 2024, and a cumulative recovery of Kz 108.4 billion.
Executive Director Mirian Ferreira added that assets in 2024 increased by 2% compared to 2023, while liabilities decreased by 5%, resulting in a 3% increase in equity. The financial margin grew 33% in 2024, alongside the net result of Kz 48.52 billion.
RECREDIT – Gestão de Activos, S.A. is a publicly owned joint-stock company, with the Angolan State holding a 95% stake. Established in 2016 to address non-performing loans, the institution contributes to strengthening the national financial sector.
Under Presidential Decree No. 133/19 of July 22, RECREDIT was converted into a multi-shareholder corporation, with the Institute for the Management of State Assets and Holdings (IGAPE) becoming a 5% stakeholder.
Source: Angop
