BPI Business Model


BPI focuses on the commercial banking business in Portugal, offering a broad range of services and financial products to corporate, institutional and individual Customers. BPI is part of the CaixaBank Group, which since the end of 2018 holds the entire share capital of BPI.

BPI is the fifth largest financial institution operating in Portugal in terms of assets (€31.6 billion), with market shares of 10% in loans and Customer deposits. 

In the insurance business, BPI has a joint venture with Allianz, reflected in BPI’s stake in Allianz Portugal (35%) and in an insurance distribution agreement using the Bank’s commercial network; in credit insurance, BPI holds a 50 percent stake in COSEC under a joint venture with Euler Hermes (a company of the Allianz Group), which holds the remaining 50 percent.

BPI also holds minority stakes in African banks (48.1% in BFA in Angola and 35.67% in BCI in Mozambique). 

Main BPI entities


1 Companies accounted for by the equity method.
2 In partnership with Allianz, holder of 65% of the share capital.
3 In partnership with Euler Hermes, a company of the Allianz Group, holder of 50% of the share capital.
4 At the end of 2018 BPI changed the accounting classification of its equity holding in BFA, from “associated company”, consolidated by the equity method, to “financial
investment”, recognised under “shares at fair value through other comprehensive income”.
5 In partnership with Caixa Geral de Depósitos, which holds 61.51% of the share capital.
6 Following the agreement to sell BPI’s investment banking businesses – equities and corporate finance – to CaixaBank, announced in November 2017, a Branch of
CaixaBank was set up in Portugal, to which these investment banking businesses and the related assets and Employees were transferred. The CaixaBank Branch in Portugal started to operate on 7 January 2019. At the same time, the process of merger by incorporation of Banco Português de Investimento into Banco BPI is under way.


With the aim of improving and expanding over the medium and long term the commercial offer to BPI’s Clients, create synergies with the CaixaBank Group, and allow BPI to focus on the core activity, and following the agreements signed and announced still in 2017, a set of subsidiaries and businesses were sold to CaixaBank: the subsidiaries BPI Vida and Pensões (still in 2017), BPI Gestão de Activos and BPI Global Investment Fund; the acquiring and cards businesses, and the investment banking business (equities and corporate finance).

In the context of this business reorganisation within the CaixaBank Group, BPI continues to offer those products and services to its Clients and to ensure the relationship with the Clients, acting as agent: 

  • Investment and saving solutions – investment funds, capitalisation insurance and pension funds – provided by BPI Vida, BPI Gestão de Activos and BPI Global Investment Fund, which were sold to CaixaBank Group companies (VidaCaixa and CaixaBank Asset Management).
  • Acquiring / Point of Sale Terminals (POS), now provided by Comercia Global Payments. Comercia Global Payments is market leader in Spain in automatic payment services, being held by CaixaBank and Global Payments.
  • Debit and credit cards, now issued and managed by CaixaBank Payments.
  • Brokerage, research and corporate finance businesses – previously conducted through Banco de Investimento, fully held by Banco BPI, are now centrally developed by the CaixaBank Branch in Portugal, which started to operate in January 2019.

BPI serves 1.93 million Customers in the domestic market, having relevant market shares in the various products and services offered. 

The business model is based on the provision of a complete range of financial products and services, structured to meet the specific needs of each segment – Individuals, Companies, and the Public Sector and State Enterprise Sector – through a specialist, multichannel and fully integrated distribution network.

The distribution network comprises 495 business units, namely 421 retail branches, 1 mobile branch, 39 Premier centres, and specialist branches and units serving corporate and institutional Customers, including 31 corporate and institutional centres and 3 Corporate and Investment Banking centres.

The network articulates with the virtual channels, which include homebanking services (BPI Net and BPI Net Empresas), telephone banking (BPI Directo) and mobile applications (BPI Apps), thus ensuring banking services coverage of all Clients.

Banco BPI’s business is organised around two main segments: (i) Individuals and Businesses, and (ii) Corporates and Institutional.

  • Individuals and Businesses 

Individuals, Businesses and Premier Banking is responsible for commercial initiatives with individual Customers, small businesses and companies with turnover of up to €5 million. The branch network is geared towards mass-market Customers and small businesses.
For the Affluent Customers – high net worth Customers or Customers with potential for wealth accumulation – BPI has a network of financial advisors, working at the Premier Centres or specific retail branches, which provide specialised financial advisory services.

BPI Private Banking, made up of a team of experts in Portugal and also comprising a 100% held subsidiary, in Switzerland – BPI Suisse – provides discretionary management and financial advice specialist services to high net worth individual Customers.

  • Corporates and Institutional 

Corporate and Institutional Banking serves, through its specialist network, large and medium-sized companies with turnover of more than €2 million, operating in parallel with Individuals, Business and Premier Banking in the segment of up to €5 million. This network is also directed to Institutional Customers, namely Public Sector entities, State and Municipal Companies, State-owned Enterprises or other institutional entities with turnover above €2 million or liabilities with BPI of more than €500 thousand.

Corporate and Investment Banking manages the relationship with the largest Portuguese corporate groups, insurance companies and subsidiaries of the largest Spanish companies, under an Iberian approach aimed at providing the best level of service.  

Customer Segmentation and distribution network in Portugal

720x801_Rede_distribuicao em Portugal

  • Turnover, th.M.€

HNWI = High Net Worth Individuals
CIB = Corporate and Investment Banking
SOE = State-owned enterprises

Turnover = gross credit + guarantees + total customer funds (on-balance sheet and off-balance sheet). Private Banking corresponds to the portfolio of discretionary and and advice, stable holdings under trust structure and portfolio of loans and guarantees.