Banco Português de Investimento

Banco BPI, formelly Banco Português de Investimento, is a Portuguese private investment bank, currently owned by finance multinational CaixaBank. Founded in 1981, it runs the banking business with companies, institutional and private clients. It is the third largest private Portuguese financial group with assets of €112.9 billion. Chairman and CEO is Fernando Ulrich. The bank is headquartered in Porto. The commercial banking group Banco BPI has more than 1.8 million customers, individuals, businesses and institutions. Through its multi-channel distribution network with 674 branches, 30 investment centers and branches, the bank specializes in home loans through a network of outside companies. The bank is primarily active in Portugal and Spain, Angola and Mozambique. In Angola, BPI is the market leader in corporate banking and its activity reached a 25% market share on its 50.1% stake in Banco de Fomento Angola with 750,000 customers. In Mozambique, the BPI maintains a 30 percent stake in the bank BCI Fomento. On 25 October 2007, BPI offered a merger proposal with Millennium BCP, the largest private bank of Portugal. However, the board of BCP rejected the proposal.