LISBON: The Portuguese authorities have got the approval from European Commission for the plans regarding CGD and BPI about the plan to restructure BCP.
The European Commission (EC) announced on Wednesday that the plans to restructure the Portuguese state-owned Caixa Geral de Depósitos (CGD) bank and two private banks in the country, Banco Português de Investimento (BPI) and Banco Comercial Português (BCP) complied with European Union rules on state aid.
The EC said in a statement it had approved the plans regarding CGD and BPI and had reached an agreement with the Portuguese authorities about the plan to restructure BCP and planned to adopt a decision on this agreement “in the coming weeks”.
