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16th August 2011

BCP may sell Bank Millennium

Banco Comercial Portugues is reported to be selling Bank Millennium SA, its Polish subsidiary. The bank is said to have initial talks lined up for next week. It is suggested that a possible sale price could be around €1.4bn (£1.2bn $2.0bn ¥153bn Y12.8bn).


Such a sale would mark yet another significant retrenchment for BCP. The bank passed the recent European stress test however has been seen as needing to change its structure or needing to add capital to deal with future regulation and market circumstances.