Bloomberg News

BPI Already Meets Requirement of Core Tier 1 of 9%, Ulrich Says

October 12, 2011

Oct. 12 (Bloomberg) -- Banco BPI SA, a Portuguese lender, already meets a requirement of having a core tier 1 capital ratio of 9 percent, Chief Executive Officer Fernando Ulrich said today at a conference in Lisbon.

On May 12, the Bank of Portugal said domestic banks must have a core Tier 1 capital ratio of at least 9 percent by the end of this year, as set out in the country’s financial aid package. That ratio must be at least 10 percent by the end of 2012.

To contact the reporter on this story: Anabela Reis in Lisbon at areis1@bloomberg.net

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net


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