Interested in Africa, may mull stake in BPI or BFA
LISBON - Bank of China Ltd is considering taking a stake in Portugal's third largest listed bank Banco BPI or its Angolan operation BFA, a top Bank of China official said on Monday.
"We have not discussed it now (taking a stake), but in the future we could discuss it," visiting Bank of China Vice President Chen Siqing said after signing a partnership agreement with BPI, when asked by reporters if buying into BPI was on the cards.
He said Bank of China was particularly interested in BPI's strong presence in Africa. BPI has a 50.1 percent in stake in Angola's largest commercial bank BFA. The rest is owned by Angolan telecoms groups UNITEL.
The agreement follows a visit by Chinese President Hu Jintao to Portugal over the weekend during which he promised to help the Iberian country cope with the impact of the global financial crisis and boost trade ties.
BPI chief executive Fernando Ulrich also said he saw a scope for developing the planned partnership in the future with the possibility that the Bank of China could buy into BPI or BFA.
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