Banco Nacional de Angola (BNA) applied, in the last quarter of last year, 24 sanctions, for which it received more than one billion kwanzas from defaulters and returns to having commercial banking as its biggest “headache”
Failure to comply with standards relating to the Protection of Consumers of Financial Products and Services are the true “Achilles Heel” of national commercial banks, having resulted, in the fourth quarter of 2023, in 16 sanctioning processes, according to data from the BNA, the that OPAÍS had access to.
Conversely, non-compliance with the rules on Money Laundering, Financing of Terrorism and Proliferation of Weapons of Mass Destruction and non-compliance with the rules relating to the execution of operations in national currency, are those items in which banks failed the least, resulting in only a process in each of the items.
Banks continue to lead the list of sanctioning processes applied by the BNA, and in the fourth quarter of 2023, they received a total of 24 processes out of a universe of 34 processes applied in total.
All in all, banks received 70.5% of the sanctioning processes in the period in question, which clearly reveals the idea that banks are indeed the most undisciplined “students” of the regulator Banco Nacional.
Non-bank financial institutions received a total of ten processes in the fourth quarter of 2023, as shown by data from the regulator.
Of these sanctions applied by the BNA, the existence of four processes of non-compliance with the Norms on Special Registration with the Supervisory Body stands out, an item categorized as behavioral and which, moreover, appears to be the biggest weakness of Financial Institutions not Banking.
Conversely, Non-Bank Financial Institutions are the most disciplined in terms of the Regulatory Reporting Deadline for the 2021 Report and Accounts, and in compliance with the rules and procedures relating to the handling of complaints, having received only one process in each of these items.
By applying the 24 pecuniary sanctions that resulted in the State collecting more than a billion kwanzas, the BNA once once more signals to the institutions under its supervision that it will not allow irregularities to pass by and that committing them has no costs. only reputational, but also a weight on their finances.
By: Laudislau Francisco
