Portugal-based Banco BPI SA has completed its merger by incorporation with subsidiaries Banco Português de Investimento SA and BPI Private Equity – Sociedade de Capital de Risco SA.

The effects of the merger and the consequent extinction of Banco Português de Investimento and BPI Private Equity are effective July 31, subject to confirmation of the transaction's registration in the commercial registry.

The merger, which was first announced in October 2018, is aimed at simplifying Banco BPI's group structure.

Spain's CaixaBank SA owns Banco BPI.