Caixa Geral de Depósitos and Banco BPI strengthen positions in BCI bank in Mozambique

15 December 2017

Portuguese state banks Caixa Geral de Depósitos (CGD) and Banco BPI have increased their holdings in the capital stock of Banco Comercial e de Investimentos (BCI) in Mozambique under an agreement with Mozambican group Insitec Capital, which ceased to be a shareholder in the bank, according to market filings.

CGD has increased its stake in BCI from 51% to 61.5%, directly and indirectly controlled, and Banco BPI’s stake in the bank has risen from 30% to 35.67%, the two banks said in a statement to the Portuguese Securities Market Commission (CMVM).

The Insitec Capital group said in a statement issued in Maputo that it had sold all of its shares in the bank to partners CGD and Banco BPI because it considered “that BCI has achieved the objectives that were the basis on which it was founded.”

The group was invited in 2007 by Caixa Geral de Depósitos and Banco BPI to be part of the project, then called BCI Fomento, thus taking on the role of national partner in the shareholder structure of the bank.

Initially BCI had a portfolio of 90,000 customers, with 41 branches, 85 ATMs and 883 POS in establishments throughout the country, and eight years later BCI has more than one million customers, it has quadrupled the number of branches to 168 and owns 477 ATMs and 6,303 POS. (macauhub)