BCP has already acquired 161,362,894 shares, representing 1.07% of its share capital, under the share buyback program it launched, for a total of nearly €96 million.
In a statement issued to the Portuguese Securities Market Commission (CMVM), the bank led by Miguel Maya announced this Friday that, under the program, it acquired “161,362,894 shares, for a total amount of €95,917,689.80, now holding a total of 161,362,894 treasury shares, representing 1.07% of its share capital.”
On April 8, 2025, BCP announced that, on that date, its Executive Committee had approved “a share buyback program with a total amount of €200,000,000.00, starting on April 14, 2025 and ending on October 14, 2025 (inclusive), without prejudice to the possibility of early termination, namely by decision of the Bank or if the maximum number of shares to be acquired or the maximum financial amount established is reached,” according to a note on its website.
The bank explained that, under its 2025–2028 Strategic Plan, it “plans to carry out share buyback programs, aiming to ensure, together with the payment of ordinary dividends, a distribution to shareholders of up to 75% of the consolidated net income generated from 2025 to 2028, subject to approval by the competent authorities.”
It is worth noting that Sonangol, Angola’s state-owned oil company, is one of the main shareholders of the bank, holding approximately 19.49% of the share capital, making it the second-largest shareholder, behind only the Chinese conglomerate Fosun International, which owns about 20.03%.
Sonangol’s stake in BCP dates back to 2007, when the company was instructed by the Angolan government to invest in the Portuguese bank. This investment was not a strategic decision by Sonangol’s management, but rather a governmental directive, as revealed in the company’s internal documents.
Despite discussions about a possible exit of Sonangol from BCP’s capital, the company has maintained its shareholding. In July 2024, the Angolan government expressed satisfaction with its investments in Portuguese companies, including BCP, indicating plans to maintain these holdings.
C/Jornal de Negócios, 30/05/2025
