Rottweiler
Forumer storico
Volendo leggere le parole della stessa Commissione:
European Commission - Press release
State aid: Commission welcomes further restructuring and approves prolongation of liquidity measures for Portuguese bank Novo Banco to facilitate its sale process
Brussels, 21 December 2015
The European Commission has approved under EU State aid rules a prolongation of Portuguese state guarantees on bonds in the nominal amount of €3.5 billion, issued by Portuguese bank Novo Banco.
In particular, the Commission found that the prolongation should contribute to ensuring the maintenance of adequate liquidity for Novo Banco. It also welcomes that Portuguese authorities have committed to additional restructuring measures to improve the bank’s viability and efficiency. Both elements should help facilitate the sale process of Novo Banco, which Portugal intends to re-launch in January next year.
Novo Banco is the bridge bank that was created in August 2014 as a result of the resolution of Banco Espírito Santo, S.A. (BES). In this context, the state guaranteed bonds issued by BES in 2011 and 2012 under the guarantee scheme in Portugal for financial institutions were transferred to Novo Banco.
The Portuguese authorities have further committed to additional restructuring measures for Novo Banco, in particular a deepening of the bank's operational restructuring as well as of the bank’s ongoing efforts to focus on its core activities and decrease gradually its activity in business units and geographies which are considered non-core. These measures will improve the bank’s efficiency and its viability, and are taken to address distortions of competition as a result of the aid.
In this context, the Commission welcomes the intention of the Portuguese authorities to re-launch the sale process of Novo Banco in January 2016. It granted an extension of the original sale deadline of August 2016, which should contribute to its successful conclusion.
Significativa la parte grassettata...
