The Portuguese state will pay 6,65 billion euros to three banks to enable them to comply with the capital requirements set by the European Banking Authority (EBA). The institutes in question are Bcp and Bpi, with private capital, and the public one cgd.
The news was disclosed in a statement from the Portuguese Ministry of Finance, which specifies that 5 billion of the total sum will be found drawing on the 12 billion in aid agreed in May 2011 by the EU and the IMF in exchange for the austerity measures.
In particular, Bpi has already announced a capital increase which provides for the subscription by the State of convertible bonds for 1,3 billion, the first bank in the country to request recourse to the funds provided for by the aid plan of the European Union and the IMF.
