Angola accounts for over 50 pct of Portuguese bank BPI’s profit in first half

31 July 2013

Net profit posted by Angolan bank Banco de Fomento Angola (BFA) in the first half of this year accounted for over half the profit of its parent group, BPI, according to figures posted by the Portuguese bank group.

The figures provided showed that profit from the group’s international businesses, which include BFA in Angola and BCI in Mozambique, fell 3.3 percent in the first six months of the year to 38.5 million euros.

Banco Fomento Angola provided a profit of 35.9 million euros to BPI’s consolidated results, or over half of the group’s profit, and BCI provided 3.9 million euros.

BPI announced it had posted a profit of 58.9 million euros in the first six months of the year, which was a drop of 30.7 percent against the 85.1 million euros posted in the same period of last year.

According to projections from analysts, BPI will be the only one of Portugal’s three largest listed banks to post a profit in the first half. (macauhub)