The Bank of Cape Verde announced that its Board of Directors has decided not to oppose Coris Holding’s proposed acquisition of 59.81% of the voting rights and shares in Banco Comercial do Atlântico, S.A. (BCA), a transaction that would result in a change of control of the Cape Verdean bank. The assessment followed Coris Holding’s submission of a non-objection application for a qualifying controlling holding under Cape Verde’s financial institutions framework. The Bank of Cape Verde carried out additional enquiries and due diligence given the acquirer’s holding structure with subsidiaries in multiple jurisdictions and BCA’s classification as a domestic systemically important bank (D-SIB). The review indicated no indications or doubts regarding the acquirer’s and ultimate beneficial owner’s suitability, financial soundness, or AML/CFT-related concerns, and remaining questions about conditions for effective supervision were subsequently addressed through further information provided in the process. The central bank noted that the acquisition must be completed within the timeframe indicated by the supervisory authority.
Bank of Cape Verde 2025-11-24
Bank of Cape Verde raises no objection to Coris Holding acquiring 59.81% control stake in Banco Comercial do Atlântico
The Bank of Cape Verde's Board has approved Coris Holding's acquisition of 59.81% of Banco Comercial do Atlântico, S.A., resulting in a change of control. The decision followed a review of Coris Holding's non-objection application, addressing concerns about the acquirer's structure, financial soundness, and AML/CFT compliance. The acquisition must be completed within the timeframe set by the supervisory authority.