Africa-Press – Angola. Recredit is in negotiations with some banking institutions to provide non-performing credit recovery services in Angolan banks, the chairman of the Board of Directors of this company, Valter Barros, announced this Wednesday in Luanda.
When speaking at the ceremony to present the results of the 2023 financial year, the manager highlighted that the Decree approved last year allows the company to present specialized advice in the collection and recovery of credits in banks.
On the occasion, Valter Barros recalled that, in 2023, Recredit recorded growth in its operations, with a 56% increase in credit recovery, compared to the previous year.
This growth, he added, is the result of the hard and selfless work of the recovery teams, as well as the client-centered strategy, always prioritizing extrajudicial negotiation.
Furthermore, he continued, the company achieved a satisfactory net result of 48.9 billion kwanzas, with growth in both assets and equity, having strengthened its financial position and improved efficiency in several indicators.
The PCA also recalled that 2023 was a year of enormous challenges, with emphasis on the slowdown in the Angolan economy from 3% to 1.3% and the contraction of the oil sector, in addition to the significant depreciation of the Kwanza, at the beginning of the 3rd quarter.
Despite this, the Recredit manager considered the bad credit recovery rate to be satisfactory at 18%, above the established target and the two credit portfolios acquired from Banco de Poupança e Crédito (BPC).
In 2023, the companies recovered around 77 billion kwanzas, representing 27% of the total amount invested (288 billion kz) in two portfolios acquired from the BPC.
The first portfolio was acquired for 231 billion kwanzas, of which Recredit recovered KZ 4 billion, equivalent to 2% of the investment.
Founded in 2017, Recredit – Gestão de Activos, SA is an advisory company specialized in credit collection and recovery that provides services operating collection portfolios.
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