Portugal’s Banco BPI is exploring sale of a stake in Angolan bank Banco de Fomento Angola (BFA), Portuguese financial daily Jornal de Negócios has reported.
The stake disposal is aimed at reducing the Portuguese lender’s exposure to the Angolan market, as required by the European Central Bank, said the daily.
At present, investment bank Goldman Sachs is contacting entities that might be interested in acquiring the stake.
BPI, through its Angolan unit, operates nearly 150 branches in Angola and caters to 1.3 million customers. It has a market share of 12% in deposits and 15% in loans in the country.