Angola's Ministry of Finance has provided an update on Recredit’s management of the non-performing loan portfolio acquired from Banco de Poupança e Crédito (BPC), with Recredit disclosing cumulative recoveries of AOA 108.35bn by end-2024. That equates to 38% of the AOA 288.87bn invested to acquire the portfolio. Recredit’s management also presented 2024 financial results, including net profit of AOA 48.52bn and return on equity of 17%. Assets linked to the acquired credit portfolio increased by around 2% versus 2023, while liabilities of AOA 1.87bn fell by 5%; reported ratios included immediate liquidity of 12% and financial autonomy of 99%. Strategic priorities were framed around maximising recoveries, monetising or selling real estate received in payment in kind, and progressing contentious cases, with converting in-kind real estate into liquidity cited as a key challenge in current property market conditions. For 2025, Recredit set a recovery objective of AOA 30bn and indicated it had already recovered close to AOA 10.7bn by March. The company reported 337 negotiated or negotiating cases, with 139 moved to litigation representing 31% of the total invested value, including 47 already proceeding to court action.

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