Bloomberg News

Banco BPI September Capital Ratio Includes 21% Greek Writedown

October 28, 2011

Oct. 28 (Bloomberg) -- Banco BPI SA’s core tier one capital ratio at the end of September includes a 21 percent writedown on the bank’s holding of Greek debt, Chief Executive Officer Fernando Ulrich said at a press conference.

Portugal’s fifth-biggest lender’s core tier one ratio was 9.0 percent at the end of September, down from 9.1 percent at the end of June, Oporto-based BPI said today in a regulatory filing.

Profit in the third quarter fell to 22.4 million euros ($31.7 million), down from 45.3 million euros a year earlier on lower lending income. Net interest income dropped to 136.9 million euros from 170.3 million euros a year earlier.

The bank increased its European Central Bank funding to 1.5 billion euros at the end of September from 1 billion euros at the end of June.

--Editors: Rob Verdonck, Joao Lima

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

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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