trending Market Intelligence /marketintelligence/en/news-insights/trending/pias8kvhyde0xsw7_pdqmw2 content esgSubNav
In This List

Montepio to exit Mozambique's Banco Terra

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A


Montepio to exit Mozambique's Banco Terra

Portugal-based Caixa Económica Montepio Geral caixa económica bancária SA said Aug. 31 that subsidiary Montepio Holding SGPS SA agreed to sell its 45.78% stake in Mozambique-based Banco Terra SA to Arise BV.

Arise is a holding company jointly created by Norfund, Rabobank and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV in 2016. It focuses on investing in financial institutions and financial services providers in Africa.

Once the sale is completed, Montepio will no longer hold a stake in Banco Terra, in line with the Portuguese group's redefined strategy toward international investments.

The agreement was signed within the framework of a partnership reinforcement with Arise for the joint exploration of investment opportunities in the region.