July 29, 2016 / 8:31 PM / a year ago

Portugal's Millennium bcp says ECB test results clearly positive

LISBON, July 29 (Reuters) - Portugal’s largest listed bank, Millennium bcp, said on Friday it obtained “clearly positive” results in the latest stress test by the European Central Bank, with a significant improvement in its solvency ratio compared to earlier tests.

BCP said that its common equity Tier 1 phased-in ratio was 7.2 percent under the adverse scenario, up from 2.99 percent in a stress test carried out in 2014, and above the minimum 5.5 percent that was required in 2014 and kept as a reference in the latest test.

BCP, whose shares have lost over 60 percent of their value so far this year due, to a large extent, to concerns about its capital needs, also said it ended June with a CET1 ratio of 12.3 percent under phased-in criteria, and a fully-loaded ratio of 9.6 percent, which was unchanged from a year earlier. (Reporting By Andrei Khalip)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below