Portugal's finance minister denied on Friday that Angola controlled too much of his country's banking sector, but said the economic straits of Portugal's former colony were a worry.
The two countries retain close ties, including in the financial sector. Concerns raised by the European Central Bank about Portuguese banks' exposure to Angola led to the last-minute sale of an Angolan stake in Banco BPI this month.
"There is a strong… and in the last decade or so, a strong increase, in the economic relationship between Portugal and Angola. Many Portuguese workers are working there; Portuguese firms are also investing there and with this, of course, the economic problems in Angola are of concern for us, not only in the banking sector, but economy-wide," Portuguese Minister of Finance Mario Centeno told CNBC on Friday in Washington D.C.