measures include trimming down the number of employees from 4,820 to 3,220, by letting 1,600 go, either through regular retirement, early retirement or termination. The number of bank branches will also be trimmed. In August 2020, the first group of 156 employees were terminated and 53 service points closed. It is expected that another 120 employees will be released soon after and another 11 service points closed. The terminated employees receive 6 months of family health insurance, loan forgiveness for loans below AOA:25 million (US$40,500) or reduction of interest rates for larger loans, free tuition for two professional courses and cash severance payments of AOA:10 million (US$16,000). Shareholding The table below illustrates the shareholding in BPC in 2016, before restructuring and the shareholding expected in 2022 after reorganization. References External links Official Website BPC transfers 80% of bad loans to Recredit As of 3 June 2020. National Bank of Angola orders recapitalisation of two banks As of 2 January 2020. Banks of Angola Companies based in Luanda Angolan brands Banks established in 1956 1956 establishments in Angola