Despite being fewer in number compared to exchange houses, micro credit companies and others, the numbers show that in the last three months commercial banks are the ones that receive the most fines from the regulator with a total of 20
Although it is not clear exactly how much commercial banks were fined, the number of cases allows us to determine that banking is the segment that receives the most fines and sanctions from the regulator, in this case the National Bank of Angola. On the other hand, non-bank financial institutions, such as exchange houses, micro credit companies and others, received a total of 14 lawsuits, six fewer lawsuits than the total number of fines applied to banks, despite representing more than double the number of banks.
As in the banking segment, the document does not clarify how much fine they had to pay, but the number of cases allows us to determine that they are not the main targets of the regulator’s sanctions. The reasons can be varied, from being more compliant to having little room to commit irregularities. Regarding sanctioning processes in the third quarter, the data shows that fines reached 631 million kwanzas. These fines refer to four very summary cases that resulted in sanctions of 100 million kwanzas, but also to 11 misdemeanor cases, which resulted in sanctions corresponding to more than 531 million kwanzas.
The BNA figures refer to the period between July 1st and September 30th, when the regulator initiated 34 sanctioning processes against banking financial institutions. Of this universe of more than 30, 50% are described as very brief, which represents 15 processes. In addition to this data, eight processes linked to the revocation of non-bank financial institutions were archived. In banking, the majority of processes were prudential in nature, 9 in total, just behind behavioral processes, 11 in total. In the non-banking segment there were 14 processes, with the highlight being non-compliances in foreign exchange operations, with three cases registered.
BY: Ladislau Francisco
