BCP 235 ME profits – Correio da Manhã

Positive results after 5 years of losses.

The Millennium BCP bank made a profit of 235.3 million euros in 2015, compared with a loss of 226.6 million euros recorded in 2014, the first positive annual results in five years.

the information was released by the chief justice, Nuno Amado, at a press conference, stressing that the profits of the year last place after four years with the accounts in ‘red’.

the official pointed out that in 2015, there was a 16.6% increase in net interest income to 1.3016 billion euros and reducing costs of 3.7% to 1.1065 billion euros, and the reduction of costs in Portugal was higher than 7%, to 636.2 million.

Bank wants to return 750 ME public aid until the end of the year

the BCP want to pay by the end of this year to EUR 750 million it owes the state bond loan in June 2012, said on Monday the president of the bank.

“the ‘CoCo’ have to be paid until June 2017 and we intend to pay this year,” said Nuno Amado, on the presentation of results 2015 BCP.

in June 2012, through the purchase by the State of contingent capital instruments (so-called ‘CoCo bonds, “debt that can be converted into shares in certain circumstances), BCP received EUR 3,000 million which served to recapitalize.

So far, the bank paid 2,250 million euros, missing you repay 750 million. It is this value that the bank president said he wanted to pay this year.

Nuno Amado also said that the first payment of the missing money will be considered at the conclusion of the operation in Angola, which is expected to merger between the BCP and the Atlantic. This should probably happen in April, said the banker. The bond loan in 2012, the state charges now that interest rates are around 10%

BCP out of the race to the New Bank due to restrictions of the State Aid

the President of the BCP away from the race to the New Bank due to restrictions related to the state aid received in 2012, stressing that the ideal would be that the entity was sold to a bank already installed on the Portuguese market.

“We impediments. We will not [participate in the second sale process initiated by the Bank of Portugal],” said Nuno Amado, during the BCP results presentation press conference in 2015.

“If the best offer is for consolidation, would be a ‘two in one’. the key is to sell at the best price. Theoretically who should offer the best price is who consolidates because it has improved,” he said.

BCP leader asks hasty sale of Banif

President’s Millennium BCP, Nuno Amado, questioned the reasons that led to the rushed sale of Banif, considering that they have to be cleared, and commended the deal done by Santander Totta.

Nuno Amado illustrated with the example of “those who have a house to sell in a hurry” and ultimately always sell at a lower price than if you have time to complete the operation.

Asked about the possible interest of BCP in the acquisition of Banif, Nuno Amado pointed to the restrictions imposed by Brussels because of the state aid received in 2012, as he had said on the new process sale of the New Bank, recently relaunched by the Bank of Portugal.

It is “very important” Portugal hold ‘rating’

the president of BCP, Nuno Amado , said it was important Portugal keep the ‘rating’ investment agency Credit rating DBRS, despite claiming that the bank is “reasonably well prepared” for a descent scenario of sovereign note.

Asked by journalists to comment on the state budget for 2016, Amado did not stretch, saying he barely knows the document and that it is important that meets the “international commitments”, to be “executable” and have fiscal predictability.

“Better a negotiating game [with Brussels] and a good budget than no and be a bad budget,” said Amado.

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