Investment bank Goldman Sachs is contacting parties that may potentially be interested in buying the stake that Portugal’s Banco BPI holds in Angolan bank Banco de Fomento Angola (BFA), Portuguese financial daily Jornal de Negócios reported.
The newspaper justifies this decision by saying that the sale of the Angolan operation is one solution to reduce the exposure of the BPI group to the Angolan market, as required by the European Central Bank.
Figures from the Portuguese bank reported at the end of the first half of 2014 showed the shareholding held by BPI in BFA was 50.1 percent.
Through its Angolan arm, BPI operated around 150 branches in Angola, with 1.3 million customers and a market share of 12 percent in deposits and 15 percent in loans.
After Portugal, BPI considers Angola to be its second largest expansion market, according to a statement from the banking group.
Among the other major shareholders of the Portuguese bank is Santoro Finance (owned by Angolan businesswoman Isabel dos Santos), which owns approximately 18.6 percent of the capital, after CaixaBank of Catalonia, with 44.1 percent. (macauhub/AO/PT)