Angolan bank announces stake in Portuguese bank BPI

29 February 2016

Angolan bank Banco BIC has a share of 2,.28 percent in Portuguese bank Banco BPI and respective voting rights, the bank said in a statement institution issued Friday through the Portuguese Securities and Exchange Commission, CMVM.

The stake is divided into 1.90 percent held directly by BIC and 0.38 percent held by the chairman of the board of directors, Fernando Teles and administrator Fernando Duarte.

The shareholder structure of Banco BIC, as of 31 December, 2014, included SGPS Santoro, with 25 percent, and Finisantoro, with 17.5 percent, both controlled by Angolan businesswoman Isabel dos Santos.

The Angolan businesswoman and Teles control 80 percent of Banco BIC, the former with a share of 42.5 percent and the latter 37.5 percent.

This stake is not new, and the market regulator forced BIC and its tow directors and shareholders to announce that, together, they control 2.28 percent of BPI.

Banco BIC (1.9 percent) and the two directors (0.38 percent) have held the shares in BPI for a long time, but as they were acquired separately, avoided having to communicate the stake to the market, which is required when it reaches 2 percent. (macauhub/AO/PT)