The president of BPI said today in Lisbon, at a press conference, that the bank intends to continue reducing its stake in the Angolan BFA and to sell its position in the Mozambican BCI. João Pedro Oliveira e Costa stated that the holdings in Angola and Mozambique “are not strategic” and, when questioned by journalists, acknowledged that this means he is open to selling. “When I publicly say that these are non-strategic stakes, it means I am willing to sell,” he said at the press conference in Lisbon presenting the 2025 results.
Banco BPI recorded consolidated profits of €512 million in 2025, down 13% from the previous year, which it mainly attributed to its stakes in Angola (BFA) and Mozambique (BCI). BFA contributed €43 million to BPI’s profits, an increase of €4 million compared to €39 million in 2024. Meanwhile, BCI had a negative contribution of €20 million due to the deterioration of Mozambique’s debt (compared to a positive €38 million in 2024).
Regarding the bank in Mozambique, Oliveira e Costa said BPI will not take any action without “prior information to Caixa Geral de Depósitos (CGD).” The executive even criticised the way Mozambican authorities treated the bank. In September, BPI sold 14.75% of the Angolan bank BFA in a transaction that raised around €103 million, retaining a 33.4% stake. Regarding BCI, BPI holds 35.67%, while the majority of the capital is owned by Caixa Geral de Depósitos (CGD).
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On Angola, he reiterated that BPI wants to reduce its stake but will never do so in a way that creates instability in the country’s sector. In September, BPI sold 14.75% of the Angolan BFA in a transaction that yielded about €103 million, now retaining a 33.4% stake.
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