Praia, Oct. 2, 2025 (Lusa) - The governor of the Bank of Cabo Verde (BCV) said on Thursday that the analysis of the sale of Banco Comercial do Atlântico (BCA, CGD group), one of the largest in the archipelago, is a complex decision, but is coming "very soon".
"It is not an easy decision, it has its complexities" and the "final phase of the preliminary hearing" is underway, said Óscar Santos, questioned by journalists on the sidelines of a meeting of Portuguese-speaking central banks in Praia.
"I'm not going to give a date" for the announcement of the decision, because "it's not always possible to comply", as has already happened with other deadlines given for disclosure since Portuguese state controlled Caixa Geral de Depósitos bank announced the sale to the Coris group of Burkina Faso.
However, he said that the outcome is "very, very soon".
"We are talking about the acquisition of a systemic bank, there are several issues that need to be raised, studied, a lot of information that needs to be gathered," he said.
When the BCV decides, "it must have all the evidence in the process to support the decision," added Óscar Santos.
"It's not a matter of rushing and then making a bad decision," in a process that "in other countries may even take longer. But the law says that there are deadlines and that they are then suspended," depending on how the process unfolds, justifying the delay.
In March 2024, CGD announced the sale of its majority stake, 59.81% of BCA's share capital, to Coris Holdings of Burkina Faso.
The sale will be made for €70.5 million, but the change is awaiting the formalities of Cabo Verdean law, namely the opinion of the central bank.
The sale is part of CGD's plan to reorganise its international activity, which will continue to be present in Cabo Verde through Banco Interatlântico.
Coris Holding is a financial institution approved by the Banking Commission of the West African Economic and Monetary Union (UEMOA), whose main activities are organised around the banking sector under the Coris Bank International brand, with nine branches.
In addition to Burkina Faso (where it is listed on the stock market), it is present in Côte d'Ivoire, Mali, Togo, Benin, Senegal, Niger, Guinea-Bissau and Guinea-Conakri.
Coris Holding also includes an Islamic finance branch, Coris Bank International Baraka, which is present in seven other countries.
The Cabo Verdean financial system has eight commercial banks, with BCA being one of the largest and one of two banks of "high systemic importance".
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