Cape Verde’s BCN bank placed on sale

5 August 2014

The Banco Cabo-verdiano de Negócios (BCN) has been placed on sale by Portugal’s Banco Internacional de Funchal (Banif) along with other units in Brazil and Malta, indicates the document presenting results of the first half-year.

“Divestment of the controlling stakes in Banif – Banco Internacional do Funchal (Brasil), Banif Bank (Malta) and Banco Cabo-verdiano de Negócios (BCN) is ongoing and is expected to be carried out in 2014,” the document states.

In the first half-year results (as in the first quarter) those three operations were included among the “discontinued operational units” which nevertheless helped improve the institution’s consolidated accounts.

The Portuguese economic press reported that Banif posted a negative result of 41 million euros, better than the 78.3 million euros recorded in the same period in 2013. The results of all three “discontinued operational units” were positive: by 300,000 euros for the Malta unit and 800,000 euros for the Cape Verde unit.

The geographic presence of Banco Internacional do Funchal has been reorganised, namely following the Portuguese state’s entry in the bank’s share capital, substantiated by 1.1 billion euros of aid in 2013. (macauhub/CV/PT/BR)