Press Release: State aid: Commission temporarily approves rescue recapitalisation of Portuguese bank Banif

Author (Corporate)
Series Title
Series Details IP/13/31 (21.1.13)
Publication Date 21/01/2013
Content Type

The European Commission has temporarily approved, under EU state aid rules, a recapitalisation totalling €1.1 billion granted by Portugal to Banco Internacional do Funchal S.A. (Banif) for reasons of financial stability. Portugal committed to provide a far-reaching restructuring plan for Banif by 31 March 2013. The Commission will take a final decision on the compatibility of the capital injection with EU state aid rules after the assessment of the restructuring measures to be proposed by Portugal.

Source Link Link to Main Source http://europa.eu/rapid/press-release_IP-13-31_en.htm
Subject Categories
Countries / Regions