Press Release: State aid: Commission opens in-depth investigation into restructuring of Portuguese bank Banif

On 24 July 2015 the European Commission has opened an in-depth investigation to assess whether state aid granted by Portugal to Banco Internacional do Funchal S.A (Banif) was compatible with EU State aid rules. In particular, the final restructuring plan for Banif should ensure that the bank becomes viable long-term whilst limiting distortions of competition brought about by the state support. The opening of an in-depth investigation gives interested third parties an opportunity to submit comments on the measures under assessment and increases legal certainty for the aid beneficiary. It does not prejudge the outcome of the investigation.

• Primary Source

ESO: Background information: State aid: Commission temporarily approves rescue recapitalisation of Portuguese bank Banif http://www.europeansources.info/record/press-release-state-aid-commission-temporarily-approves-rescue-recapitalisation-of-portuguese-bank-banif/

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