Banco BAI Europa SA started its activity in Portugal February 2, 1998 as a branch of the BAI, Angolan Banco de Investimentos, SA (ex - the African Investment Bank) based in Luanda, Angola. On September 1, 2002 by changing the legal status of a branch to branch, was born Banco BAI Europa SA (baie), a financial institution under Portuguese law, governed by the rules of the Bank of Portugal under European Union legislation. As a major shareholder, the Angolan Investment Bank holds more than 99.9% of the share capital of Banco BAI Europa.