Portuguese banks to issue up to €9bn of MREL debt, says Fitch

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By David Freitas
07 Oct 2019

Fitch Ratings said on Monday that it expected Portuguese banks would issue up to €9bn of senior debt for the minimum requirements for own funds and eligible liabilities (MREL) in the coming years, as they work concurrently on cleaning up the asset sides of their balance sheets.

Despite improvements in their asset quality, Portuguese banks are still a long way from being cost-efficient and profitable, Fitch noted as part of its analysis of recent earnings figures published by the country's banks.

Its report looked at Banco BPI, Banco Comercial Português (BCP), Montepio Geral, Caixa Geral ...

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