BPI lost 7.64% on the day of return to trading – Express

The shares of BPI closed Tuesday losing 7.64% at 1.1 euros, with about 7 million traded securities. The Securities Market Commission (CMVM) has withdrawn the suspension of trading of the shares of BPI to 15h after a bank statement that clarified some issues raised by the regulator.

The closing price is below the price offered by CaixaBank, which has 44.1% of the BPI, the public tender offer (OPA) launched on the bank of 1.113 euros per share.

BPI clarified that “is not at this time, to be subject to any periodic penalty payment the European Central Bank (ECB) “by not yet be a solution to reduce the exposure of the BPI Angola. But noted that already informed the ECB that is seeking “an alternative to the large exposure limit of non-compliance.” – The need to reduce their exposure to Angola

Already on Monday the CaixaBank in the preliminary announcement of the takeover bid, he said he “requested the suspension of any administrative proceedings against BPI regarding their situation of excess risk concentration in order to allow the CaixaBank find a solution to that situation if they finally get Banco BPI control. “

He explains that” on 1 March, the ECB announced it a decision implementing project of a periodic penalty payment, failure to comply, the maximum daily amount is “5 % of the average daily turnover “, ie EUR 162 million. He added that” periodic penalty payments may be applied for a maximum period of six months from the date stipulated in the decision to apply “and that 22 March defended the conditions laid down in the applicable regulations for the application of a periodic penalty payment from the ECB are not met. In addition to that it considered that such a penalty to be applied, “should assume a much less than the maximum provided for in the applicable regulations”.

The bank says it is now “waiting for the end of the ECB decision.” In this case proceeds, if decided to proceed with “the application of a periodic penalty payment, it is application for revision before the Reexamination Board of the ECB and appeal to the Court of Justice of the European Union.”