Africa-Press – Angola. Angolan private bank Banco Sol has closed 39 branches in 10 provinces of the country, as part of the implementation of its Recapitalization and Restructuring Plan (PRR).
This is the closure of the branches in the provinces of Luanda, Benguela, Cuanza-Sul, Malanje, Namibe, Moxico, Cunene, Cabinda, Huíla and Uíge, which implied the termination of the employment relationship of the workers of these branches, according to a press release.
According to Banco Sol, it is a deeply difficult decision, as each employee represents a story, a presence and a close contribution to the institution.
The note states that the implementation of the RRP arises from the fact that the bank is going through a challenging and decisive moment, which requires courage, maturity and a deep sense of responsibility.
Therefore, it adds, this program aims to ensure the profitability, vision, competitiveness and continuity of Banco Sol business, seeking to respond realistically to the demands of current transformations and dynamics of the financial sector, as well as the economic situation.
The RRP was unanimously approved by all the bank”s shareholders on January 21, 2025.
After that, the document was presented to the National Bank of Angola, which approved the documentation on April 24 of this year.
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