The ECB has given Caixabank 4 months to investigate risky BPI investment

The European Central Bank (ECB) has given Caixabank four months to address risks associated with Banco BPI's investment in Banco de Fomeno Angola. The four month period is set to begin once Caixabank's $2bn acquisition of BPI has been completed. 

BRIEF-Caixabank says ECB gives it 4 months to address BPI's Angolan risks

June 22 (Reuters) - Spain's Caixabank

* Says ECB has suspended sanction process on Portuguese bank BPI's investment in Angolan bank BFA

* Spain's Caixabank says ECB has given Caixabank four months to address risk associated with BPI investment in Angolan bank BFA

* Spain's Caixabank says four month period will start when Caixabank's planned acquisition of BPI is completed