Bloomberg News

Bank of Portugal Says Inspections on Country’s Lenders Completed

March 01, 2012

The Bank of Portugal said it completed the inspections on Portuguese banks required by the country’s external aid package.

The central bank concluded the process yesterday with the assessment of the lenders’ methologies to evaluate their future solvency, the Bank of Portugal said in a statement on its website today.

Most of the eight banks assessed use adequate methods, the central bank said, although some need to introduce improvements. The Portuguese unit of Banco Santander SA (SAN) and Espirito Santo Financial Group SA (ESF) said, in separate statements, that they acheived the highest possible classification. Banco Comercial Portugues SA (BCP) said the central banker found it used “appropriate parameters and methodologies.”

The Bank of Portugal said four banks used methods that are “generally” adequate, although they need to introduce improvements in some areas. Banco BPI said it was included in this group. One bank didn’t have adequate methodologies, the Bank of Portugal said.

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

To contact the editor responsible for this story: Jim Silver at jsilver@bloomberg.net


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