⁍ Portuguese authorities in March said bank customers could suspend loan repayments.
⁍ The moratorium has been extended until September 2021.
⁍ Millennium bcp reported in July a 55.3% drop in first-half net profit.
– Portugal’s biggest private bank is “absolutely convinced” that it won’t need to raise capital to deal with the economic impact of the H1N1 virus, its CEO said yesterday. The bank, Millennium bcp, has agreed to extend a moratorium on loan repayments that was put in place during the outbreak, Reuters reports. “There will certainly be an increase in impairments, but I am absolutely convinced that Millennium bcp will not need any capital increase to deal with the challenges that lie ahead,” Miguel Maya said. “I dismiss this scenario totally.”
Source: https://www.reuters.com/article/portugal-banks-millennium-bcp/portugals-millennium-bcp-will-not-need-more-capital-to-deal-with-crisis-ceo-idUSL8N2HI5HN