Banco Comercial Português
 |
|
| Sociedade Anónima | |
| Traded as | Euronext: BCP |
| Industry | Banking, Financial Services |
| Founded | 1985 |
| Headquarters | Porto, Portugal |
|
Key people
|
Nuno Amado (CEO), António Monteiro (Chairman of the supervisory board) |
| Products | Retail, business and investment banking, insurance, fund management |
| Revenue | €2.823 billion (2010) |
| €293.3 million (2010) | |
| Profit | €-740.5 million (2010) |
| Total assets | €100.01 billion (end 2010) |
| Total equity | €7.247 billion (end 2010) |
|
Number of employees
|
21,770 (average, 2010) |
| Subsidiaries | Millennium BCP, Millennium BIM, Bank Millennium |
| Website | www.millenniumbcp.pt |
Banco Comercial Português (BCP) (English: Portuguese Commercial Bank), is a Portuguese bank that was founded in 1985 and is the largest private bank in the country. BCP is a member of the Euronext 100 and its current chief executive officer is Nuno Manuel da Silva Amado. BCP is based in Porto, but its operations are headquartered in Oeiras, Greater Lisbon. It operates a branch brand dubbed and restyled in 2004 as Millennium BCP as well as Banque BCP and ActivoBank.
It has nearly 4.3 million customers throughout the world and over 900 branches in Portugal. In 2008, it reported a profit of €201 million. It was ranked at number 453 in the 2007 Forbes Global 2000 list. However, by 2012, the bank was in deep financial stress and had to be rescued by a state bailout of 3 billion euros ($3.8 billion) in state funds it took from the country's IMF/EU bailout package.
BCP was founded in 1985 by Jardim Gonçalves and a group of investors from the Porto region.
Since 2004, it operates a branch brand dubbed and restyled as Millennium BCP, following a process of amalgamating all the brand names and complete incorporation of all commercial structures of the group's retail banking:
On 25 October 2007, a smaller Portuguese bank, BPI - Banco Português de Investimento ("Portuguese Investment Bank") offered a merger with BCP. The board of BCP initially refused as long as terms were not be revised. The merger talks failed and the two banks didn't reach an agreement.
Bank of Montreal (BMO) purchased the Canadian division of BCP Bank in the summer of 2007. All branches in Canada remained BCP Bank branches until October 2007, when they became BMO branches. These branches continue to operate as specialty branches to Lusophone communities, including Azorean communities in Toronto, Ontario, except the Dundas Street West and University Avenue branches, which have turned towards the Chinese community.
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Wikipedia