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BRIEF-BCP seeks ROE around 10 pct by 2018, may resume dividend payouts
January 12, 2017 / 6:05 PM / in 6 months

BRIEF-BCP seeks ROE around 10 pct by 2018, may resume dividend payouts

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Jan 12 (Reuters) - Portugal's Millennium bcp-Banco Comercial Portugues SA says in a presentation of a previously announced 1.3 billion euro rights issue:

* Targets return on equity of around 10 percent in 2018 on a stronger equity base, with fully-implemented common equity Tier 1 capital ratio of 11 percent. In the first nine months of 2016 ROE was a negative 7.7 pct.

* Sees potential return to dividend payments, with an intended payout ratio of 40 percent or more by 2018.

* Sees loans to deposits below 100 percent by 2018.

* Cost of risk to fall to less than 75 basis points from 221 points last year.

* Cost-to-income ratio seen below 43 percent by 2018 after 46 percent last year. Source text: here

Further company coverage: (Reporting by Andrei Khalip)

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