"The weight that the asset had decreased significantly and is fulfilled [that goal]. The participation [of BPI in BFA] remains at 48.1 percent," said João Pedro Oliveira e Costa, at the presentation of the first half results.
According to the manager, with the reduction of BFA's weight in BPI, the regulator's pressure for BPI to reduce its participation in BFA "clearly decreased", but he said that this goal remains and that BPI wants to sell its participation in BFA (in whole or in part), but that it will only do so at the moment it considers appropriate and to a "credible" investor.
"We maintain the same intention, but there is no deadline because it is not possible to have a deadline," he said.
BPI disclosed this Friday consolidated profits of 185 million euros in the first half, four times more than in the same period of 2020.
BFA approved in the second quarter the 2020 ordinary dividend and a distribution of free reserves, which had an impact of 92 million euros on BPI's results.
BPI has held 48.1 percent of BFA since the beginning of 2017, when it sold 2 percent of the Angolan bank to the operator Unitel (then controlled by Isabel dos Santos) by imposition of the European Central Bank (ECB), as it considers that Angolan supervision is not equivalent to European supervision.
Since then, Frankfurt still recommends that BPI reduce its exposure to Angola.
BPI is 100 percent owned by Spanish group CaixaBank.
