BFA was incorporated by public deed on 26 August 2002, following the transformation of Banco BPI, S.A.'s Angolan branch into a bank under Angolan law.
Until the beginning of 2017, BFA was majority owned by BPI Group, with 50.1% of the respective share capital, and the remaining 49.9% was held by UNITEL, S.A.
On 5 January 2017, in execution of the share purchase and sale agreement entered into on 7 October 2016, the sale by Banco BPI of the participation representing 2% of BFA's share capital to UNITEL took place, which became the majority Shareholder of BFA, holding 51.9% of the respective share capital.
Following the Initial Public Offering (IPO) which was concluded in September 2025, the shareholder composition of BFA is now as follows:
- BPI: 33,35%
- UNITEL, S.A.: 36,9%
- Other Shareholders: 8,473 Investors, each holding less than 2% of the share capital, distributed among companies, individuals, and institutions: 29.75%
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