CaixaBank’s Portuguese subsidiary Banco BPI has agreed to sell its remaining 33.35% stake in Banco de Fomento Angola to Congolian Financial SA, a company owned by Angolan business group Grupo Carrinho, for a fixed €388.5 million, as reported by CNBC Africa and MarketScreener. The transaction marks BPI’s complete exit from Angola’s banking sector and is expected to add about €9 million to its accounting shareholders’ equity based on the two fixed payment components.
The agreed consideration comprises €345 million payable when the transaction closes and a deferred fixed payment of approximately €43.5 million due in May 2027. BPI will also receive a deferred variable payment equivalent to half of BFA’s 2026 dividend attributable to the shares being sold. As of June 30, 2026, BPI valued its BFA holding at €379 million on its balance sheet.
The sale concludes a long running effort by BPI to reduce its exposure to Angola. The bank had been seeking to dispose of its BFA interest since 2017 following a European Central Bank recommendation to reduce its exposure to the Angolan market. In September 2025, BPI sold 14.75% of BFA through the Angolan bank’s public offering for about €103 million, reducing its holding to the 33.35% stake now being sold.
For Grupo Carrinho, the transaction represents a significant expansion of its position in Angola’s financial sector, while for BFA it further consolidates domestic ownership following its 2025 listing on Angola’s stock exchange. Completion remains subject to legal and regulatory conditions, including approval or non objection from the Banco Nacional de Angola and relevant capital markets authorities. The deal highlights the continuing reshaping of Angola’s banking ownership landscape as international institutions reassess their exposure while domestic investors deepen their participation.
