Caixabank's BPI leaves Angola market with BFA stake sale for €388.5 million

CaixaBank SA

04/09/2026 08:18

Sept 4 (Reuters) - Caixabank's CABK.MC Banco BPI said on Thursday it agreed to sell its 33.35% stake in Banco de Fomento de Angola (BFA) to Congolian Financial (CFSA) for a fixed amount of €388.5 million ($451.71 million).
   The deal marks the exit of the Portuguese unit of Caixabank from the Angolan market and would have a positive impact of approximately €9 million on BPI's accounting shareholders equity.
The fixed amount is composed of a tranche of €345 million and a deferred fixed tranche of approximately €43.5 million.
The agreed price is also composed of a deferred variable tranche, corresponding to half of BFA's 2026 dividend attributable to the stake, with both deferred tranches due in May 2027.
As of June 30, 2026, the BFA stake was recorded on BPI’s balance sheet at €379 million.
BPI says that the transaction would have a positive impact of about €9 million on its accounting shareholders equity just from the two fixed tranches (€388.5 million) of the agreed sale price.
BPI has been trying to sell its stake in BFA since 2017 following the European Central Bank's recommendation to reduce its risky exposure to Angola.
Last year BPI sold a 14.75% stake in BPA when the Angolan bank launched its IPO.
In 2023, BPI suspended the sale of its entire 48.1% stake in BFA due to the devaluation of the kwanza currency against the dollar.
Buyer CFSA is owned by Angola's Grupo Carrinho.


($1 = 0.8601 euros)

 (Reporting by Joao Manuel Mauricio in Gdansk; editing by Jesús Aguado and Sharon Singleton)