"The pressure from the European supervisor to reduce our position has not eased," stated João Pedro Oliveira e Costa, in Lisbon, at the press conference to present the results of the first nine months of the year.
The manager added that, although BPI's stake in BFA remains (48.1 percent), the bank has "done a lot of homework" in relation to Banco de Fomento de Angola (BFA), in the case of the significant distribution of dividends in the second quarter with a reduction in the weight of BFA assets in BPI.
"We continue to do homework, but we do not have specific information, we expect to continue to benefit from BFA's good management and contributions to the bank's results," he said.
BPI has held 48.1 percent of BFA's capital 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 ECB, as the latter considers that the Angolan supervision does not is equivalent to the European one.
Since then, the Frankfurt recommendation for BPI to reduce exposure to Angola has been maintained.
BPI is 100 percent owned by the Spanish group CaixaBank.
The bank announced this Tuesday profits of 242 million euros until September, almost triple the 86 million euros for the same period in 2020.
BFA's contribution to profits was €100 million, which includes €40 million from the 2020 dividend and €50 million from the distribution of reserves recognized in profit or loss, according to BPI.
BPI says ECB maintains pressure to exit BFA
The executive president of BPI said this Tuesday that he has not eased the pressure from the European Central Bank (ECB) for the bank to leave the BFA, but that there is no news in this matter.
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