BPC to save around KZ 1 billion in rent with reopening of headquarters building in Luanda.

Annually, Angola's largest state-owned bank spent around 1.3 billion kwanzas on renting facilities for providing services.

The Banco de Poupança e Crédito (BPC) will, as of September, reduce its annual rent costs by around 1.3 billion kwanzas with the reopening of its headquarters building in the country's capital, according to executive director Sandra Balsa.

According to the executive director for assets of the aforementioned financial institution, Sandra Balsa, rent payments for one of the buildings that concentrates most of the bank's services, in Talatona, are estimated at 900 million kwanzas/year, and this is one of the expenses that burdens the bank the most.

“With the reopening of the headquarters, the departments that operate in that building will move to the new facilities by the second week of September,” she said.

Reopening

The renovation and modernization of the BPC is budgeted at 37 billion kwanzas, with an investment of almost 1.5 billion kwanzas in furniture and equipment for the project.

Sandra Balsa also said that, to date, almost the entire budgeted amount has been paid, with the exception of the three billion kwanzas (5% of the total value) that must be retained by the bank as a form of guarantee to safeguard against any anomaly that may arise in the near future.

The infrastructure, with 20 usable floors in total, has two technical floors, with each floor having two directions, and no longer has the residential space that the previous building had. It also has a minimum capacity to house 650 employees, as well as a gym and a leisure area, with a business center, an institutional part.ectives.