BCP wants to return money to the State yet this year – TVI24

Nuno Amado, chairman of the BCP, in the presentation of the quarterly results, promised to return even in 2016, a slice of the 750 million euros that should be to State, due to the bonds granted in June 2012.

We are working to be able to afford something this year. There are changes that are relevant with the theme of Italy and the theme Brexit”, she said, after being confronted by journalists with the intention that he had announced at the beginning of the year to pay in 2016, the totality of the instruments of contingent capital (the so-called 'CoCo bonds’, debt that can be converted into shares in certain circumstances).

we Maintain the intention to pay the whole of the Coconut before the predicted [the cutoff date is June 2017]“, added Nuno Amado, during the press conference of presentation of the accounts for the first nine months of the year.

In June 2012, through purchase by the State of instruments of contingent capital, the BCP received 3,000 million euros, which served to recapitalise.

so far, the bank has paid to 2,250 million euros, missing him to repay 750 million. It is this value that in February the president of the bank said to want to pay this year.

By the bonds granted in 2012, the State charges interest that currently around 10%.

Between September of 2015 and the end of the third quarter of this year, the BCP has reduced the staff in 126 workers and has closed 45 agencies.

We close 37 branches since the beginning of the year and in September we had 634 branches in the Uk. If there are closures [until the end of the year], will be 10 or 20, but not more than that. It is not anything out of the ordinary”, considered Nuno Amado during the press conference of the disclosure of the accounts of the bank in the first nine months.

Asked about the deadlines for the reset wage in the BCP, Nuno Amado said the goal remains fixed in January 2018.

In our base plan of restructuring, the reset of the salary was in January 2018. If it is possible to anticipate, anteciparemos”, said.