| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/13/31 (21.1.13) |
| Publication Date | 21/01/2013 |
| Content Type | News |
|
The European Commission has temporarily approved, under EU state aid rules, a recapitalisation totalling €1.1 billion granted by Portugal to Banco Internacional do Funchal S.A. (Banif) for reasons of financial stability. Portugal committed to provide a far-reaching restructuring plan for Banif by 31 March 2013. The Commission will take a final decision on the compatibility of the capital injection with EU state aid rules after the assessment of the restructuring measures to be proposed by Portugal. |
|
| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-13-31_en.htm |
| Subject Categories | Internal Markets |
| Countries / Regions | Portugal |
