"There was a suspension of the sale process that ended up being made official, not on our initiative, this is a confidential process that we continue with permanent communication with the Angolan authorities and with our partner in Angola, Unitel", said João Pedro Oliveira and Costa at the presentation of BPI's results for the first half.
According to the bank's chief executive, the suspension of the sale of BFA, in which BPI holds a 48.1 percent stake, was related "to volatility and the change in the conditions that existed, in this specific case, for the kwanza". .
Although the process is suspended, João Pedro Oliveira e Costa does not exclude the possibility of potential interested parties entering.
"The sales process is not closed, it is not exclusive and therefore new competitors can always appear", he guaranteed.
BFA contributed with 41 million euros to BPI's consolidated profits of 256 million euros in the first half, in a contribution that fell by 59 percent year-on-year and which includes the dividend for 2022 and which was hampered by the devaluation of the Angolan currency .
At the press conference for the presentation of results, BPI's chief executive pointed out that BFA is "a reference, not only in Angola, but in the African financial market".
"It is a reference, a great reference, at all levels, in solidity, in profitability, in risk level, in 'governance'", a fact "recognized by the Angolan Central Bank and by the Angolan Government", according to the administrator.
In this sense, any decision taken for the sale of the bank must "be made in harmony and in accordance with what Angola's wishes and policy are".
BPI has owned 48.1 percent of BFA since the beginning of 2017, when it sold 2% of the Angolan stake to operator Unitel at the behest of the European Central Bank (ECB), as it considers that Angolan supervision is not equivalent to European supervision.
Since then, Frankfurt's recommendation has been maintained for BPI to reduce exposure to Angola.
BPI is 100 percent owned by the Spanish group CaixaBank.
