Bloomberg News

BPI Rises After Posting Higher Net, Capital Ratio: Lisbon Mover

July 26, 2012

Banco BPI SA (BPI), Portugal’s fifth- biggest bank, rose 4.2 percent in Lisbon trading after reporting higher first-half profit and an improvement in its capital ratio.

The stock climbed 2 euro cents to 50.1 cents in the Portuguese capital, the highest close this week. Banks across Europe also rallied after European Central Bank President Mario Draghi pledged to defend the euro.

BPI said after the close of trading yesterday that first- half net income rose 7.5 percent to 85.1 million euros. Its core Tier 1 capital ratio as of June 30 was 14.5 percent, based on Bank of Portugal rules, and 9.4 percent according to the European Banking Authority’s criteria.

“The results reflect a set of very relevant improvements in BPI’s capital and liquidity position,” Andre Rodrigues, an analyst at Caixa-Banco de Investimento SA with a “buy” recommendation on the stock, said today in a research note.

To contact the reporter on this story: Joao Lima in Lisbon at jlima1@bloomberg.net

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net


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