Portuguese private bank Banco Comercial Português (BCP) in the next few days plans to repay the aid it received from the Portuguese state almost five years ago, according to Monday’s edition of financial daily newspaper Jornal de Negócios.
BCP received a 3 billion-euro capital injection from the Portuguese state, through the issuance of contingent capital securities (debt instruments convertible into shares), of which 700 million euros have not yet been repaid.
Jornal de Negócios reported that BCP has already received European Central Bank authorisation for the repayment of that portion, and must do so by 17 February.
BCP recently carried out a capital increase which raised 1.33 billion euros, increasing the registered capital of Portugal’s largest private bank to 5.6 billion euros represented by over 15.113 million shares.
At the end of this process, the two major shareholders, Chinese group Fosun through Chiado (Luxembourg) and Angolan oil company Sonangol increased their stake in the bank, with Fosun’s stake now totalling 24%. (macauhub)