The European Central Bank (ECB) has given Caixabank four months to address risks associated with Banco BPI's investment in Banco de Fomeno Angola. In a statement released on Tuesday, the ECB said that it had "received information from the Angolan authorities regarding concerns about certain transactions of Banco BPI and its subsidiaries involving investments by Banco BPI, including Caixabank's $2bn acquisition of BPI has been completed.
The European Central Bank (ECB) has given Caixabank four months to address risks associated with Banco BPI's investment in Banco de Fomeno Angola. The four month period is set to begin once Caixabank's $2bn acquisition of BPI has been completed.