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Europe Daily Bulletin No. 10767

22 January 2013
ECONOMY - FINANCE - BUSINESS / (ae) state aid
Banif gets €1.1 billion bailout

Brussels, 21/01/2013 (Agence Europe) - On 21 January 2012, the European Commission granted temporary clearance to a €1.1 billion bailout by the Portuguese state of Portuguese bank Banco Internacional do Funchal SA (Banif) on condition that a restructuring plan is submitted by 31 March 2013. In order to prevent the bank from breaking the Portuguese bank regulation authority's capital requirements, Portugal notified the Commission on 11 January of its plan to recapitalise the bank via a...

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