Bloomberg News

Banco Comercial ’Firmly Convinced’ It Will Succeed in Recap Plan

July 27, 2012

Banco Comercial Portugues SA (BCP) is “firmly convinced” it will carry out its recapitalization plan successfully, Chief Executive Officer Nuno Amado said at a press conference in Lisbon today.

The lender has the capacity to repay loans it receives from the Portuguese state and is confident a capital increase scheduled for September will be fully subscribed by shareholders, Amado said. The capital increase is expected to be completed by the end of September, he said.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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