In a statement, the Group said that Finibanco Angola was sold for 9,046,807 thousand kwanzas, with an equivalent value of 10 million euros.
"The impact of this transaction on the consolidated net income of Banco Montepio compared to the financial statements of June 30, 2023 was -86 thousand euros, with solvency having been reinforced with a favorable impact on the total capital ratio, estimated on a pro forma basis at the end for the first half of 2023, of 8 basis points, triggered by the decrease in risk-weighted assets", adds the Group.
The note also mentions that with the sale of the entire stake in Finibanco Angola, the Banco Montepio Group no longer has any exposure to the Angolan market.
The financial institution also says that with this sale "it materializes its strategy of simplifying the Group's corporate structure and focusing on the domestic market, also reinforcing the capital ratio by 24 basis points".
In July, in a communication sent to the Securities Market Commission (CMVM), Banco Montepio announced that it had concluded the sale of 51 percent of the share capital and voting rights it held in Finibanco Angola to Access Bank, for the sum of 17.2 million euros.
Banco Montepio explained that with the operation it lost control of the subsidiary, maintaining a stake equivalent to 29.22 percent of the share capital of Finibanco Angola (FNBA).
"The Banco Montepio Group concluded the sale of 51 percent of the share capital and voting rights it held in Finibanco Angola (FNBA) to Access Bank, for the amount of 15,790,115 thousand kwanzas, with the equivalent of 17.2 million of euros", he informs.
In October, Banco Montepio announced that it sold the stake it held in Finibanco Angola (FNBA) to the Nigerian Access Bank, but did not clarify which stake it held.