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Spaniards trust BPI less globally to the Ulrich/Oliveira e Costa duo for three more yearsPhoto by TheDigitalArtist on Pexels
Business

Spaniards trust BPI less globally to the Ulrich/Oliveira e Costa duo for three more years

Público8 September 2026 at 16:57

The Spaniards, through CaixaBank, decided to maintain confidence in the management team led by Ulrich and Oliveira e Costa at BPI for another three years, in a demonstration of continuity in the administration of the Portuguese bank. The new BPI administration no longer includes the presence of the CaixaBank leader, the main Spanish shareholder of the institution.

However, the new board strengthens the position of BPI's financial manager, acknowledging his role in the bank's management. This decision represents a vote of confidence in the continuity of the strategy implemented by the management duo.

The new BPI management "police" played a surveillance role over BCP's leadership over the past decade, suggesting a historic rivalry between the two Portuguese banking institutions. This reinforced control indicates the importance BPI places on monitoring its competitors in the national financial sector.

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