National Bank of Angola which at the time was an overseas province of Portugal. In 1926, the Portuguese established a separate issue bank for Angola, creating the Bank of Angola (). BNU transferred its branch in Stanleyville to this bank, which in 1934, transferred the branch to Boma, before closing it in 1947. When Angola gained its independence in 1975, the government nationalized the banking sector. "Banco de Angola" became "Banco Nacional de Angola" (BNA); "Banco Comercial de Angola" became "Banco Popular de Angola", and is now "Banco de Poupança e Crédito". The BNA continued to function as a central bank, bank of issue
1950s in Angola 1950s in Angola Angola in the 1950s transitioned from colonial to provincial status. Angola had the status of a Portuguese colony from 1655 until the Assembly of the Republic passed a law on June 11, 1951, giving all Portuguese colonies provincial status, effective on October 20, 1951. Separatist political organizations advocating Angolan independence formed in the 1950s despite strong resistance from the Portuguese government, leading to the Angolan War of Independence (1961–1975). Viriato da Cruz and others formed the Movement of Young Intellectuals, an organization that promoted Angolan culture, in 1948. Nationalists sent a letter to the United Nations calling