European Union: EC gives green-light to bank restructuring


The European Commission approved the plans regarding CGD and BPI and had reached an agreement with the Portuguese authorities about the plan to restructure BCP.

Business What's New — 24 July 2013 by Lusa News
European Union: EC gives green-light to bank restructuring

The European Commission (EC) announced on Wednesday that the plans to restructure the Portuguese state-owned Caixa Geral de Depósitos (CGD) bank and two private banks in the country, Banco Português de Investimento (BPI) and Banco Comercial Português (BCP) complied with European Union rules on state aid.

The EC said in a statement it had approved the plans regarding CGD and BPI and had reached an agreement with the Portuguese authorities about the plan to restructure BCP and planned to adopt a decision on this agreement “in the coming weeks”.

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