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
Colonial history of Angola Colonial history of Angola The colonial history of Angola is usually considered to run from the appearance of the Portuguese under Diogo Cão in 1482 (Congo) or 1484 (Angolan coast) until the independence of Angola in November 1975. Settlement did not begin until Novais's establishment of São Paulo de Loanda (Luanda) in 1575, however, and the Portuguese government only formally incorporated Angola as a colony in 1655 or on May 12, 1886. Luanda was founded in 1576 with a hundred families of settlers and 400 soldiers. Benguela was founded as a fort in 1587. Luanda was granted the status of