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Commission approves restructuring plan for Banco Portugues de Negócios

By  |  March 28, 2012
Commission approves restructuring plan for Banco Portugues de Negócios

The European Commission has approved Portugal’s restructuring plan for Banco Portugues de Negócios (BPN). The plan calls for selling BPN to Banco BIC Portugal after the restructuring. The Commission found that the plan preserves financial stability and creates a viable entity by creating synergies between the two banks. Portugal has submitted commitments to limit and adjust the aid to BPN over time.

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    Full content: EC Press Release

     

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