Angola’s central bank said on Friday it was withdrawing the licences of two small lenders, Banco Mais and Banco Postal, and said they should both be declared bankrupt.
The National Bank of Angola said the two lenders had missed a Dec. 31 deadline for complying with new capital requirements, according to a statement on the central bank’s website.
“The National Bank of Angola decided to withdraw the licences of the said banking financial institutions, which cease, as of this date, their respective activities,” it said.
It said the banks should be declared bankrupt and their respective liquidators should deal with customer deposits, employees and other obligations.
Banco Postal, one of the country’s newest banks that was incorporated in 2016, had assets of just under 14 billion kwanzas ($45.5 million) in the third quarter of 2018.
Banco Postal could not immediately be reached by telephone outside of normal business hours and officials from the bank did not immediately reply to a Reuters email requesting comment.
Reuters was not immediately able to obtain details to contact Banco Mais.