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
1960s in Angola exports doubled between 1965 and 1970 to 170 million pounds. In the district of Huambo, between 1968 and 1970 white-owned land more than doubled from 249,039 hectares to 526,270 hectares. Native-owned land decreased by 36.5%. The average African farm's gross income declined between 1964 and 1970 from $98.00 to $35.00 Portuguese petroleum-production began in Congo basin in the 1960s, and in the exclave of Cabinda in 1968. Now the petroleum industry is the engine of the Angolan economy. 1960s in Angola The 1960s in Angola were marked by the War of Independence (1961–1975). Portuguese police arrested Agostinho Neto of the