BPI Bank reached an agreement with Congolian Financial SA, an entity belonging to the Angolan group Carrinho, for the sale of its entire residual position of 33.35% in Banco de Fomento Angola. The transaction covers more than 5 million shares and involves proceeds exceeding 388.5 million euros, structured in three tranches: 345 million euros at closing, 43.5 million euros in May 2027, and a variable tranche corresponding to half of the dividends related to fiscal year 2026, also paid in May 2027.
Completion of the deal remains subject to several regulatory approvals, namely non-objection from the National Bank of Angola, an OPA waiver from the Angolan Capital Market Commission, and the expiration of Unitel's pre-emption right, the Angolan state operator that holds 36.90% of BFA's capital.
This disposal closes a gradual divestment process imposed since 2017 by the European Central Bank, which required European banks to reduce exposure to higher-risk jurisdictions such as Angola. In September 2025, BPI, owned by Spanish group CaixaBank, had already sold 14.75% of BFA on the stock exchange for 103 million euros.
In accounting terms, the Portuguese bank anticipates that the operation will generate a positive impact on its equity of approximately 9 million euros, taking into account the revaluation of assets recorded on the balance sheet as of June 30, 2026.
