Angola, Mozambique and Poland are strategic markets for Portuguese bank BCP

30 July 2013

Angola, Mozambique and Poland are strategic markets for Portuguese private bank Banco Comercial Português (BCP), the bank’s chairman said Monday at the presentation of the bank’s half-year results.

“Angola, Mozambique and Poland are strategic and contribute to the bank’s performance, building up capital rather than destroying it,” noted Nuno Amado.

In the first half, Millennium BCP, the group’s retail brand, posted a net loss of 488 million euro, an improvement compared to the 544 million–euro loss posted in the same half of 2012.

“This result is in line with our plan and with the economic cycle,” noted Amado, who added that the contribution of consolidated results of international operations (except Greece), of 84 million euros, were a 12.7 percent improvement on the same half of 2012.

BCP also said that in the first half of the year it had paid 169.4 million euros in commissions and interest on state-backed securities issues and by hybrid instruments (CoCos) of the bank subscribed by the Portuguese State. (macauhub)

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