Banco Comercial Portugues

Capital/Financing Update • Dec 12, 2024

12 December 2024

Banco Comercial Português, S.A. informs about minimum prudential requirements

Banco Comercial Português, S.A. ("BCP" or "Bank") hereby informs that, under the context of the Supervisory Review and Evaluation Process (SREP), it has been notified of the decision of the European Central Bank (ECB) regarding minimum prudential requirements to be fulfilled on a consolidated basis from January 1, 2025.

According to the information received, the Pillar 2 Requirement ("P2R") for BCP from January 1, 2025, is 2.25%, which represents a decrease of 25 bp, reflecting a more favourable assessment from the Supervisor on the Bank's global risk.

The decisions referred above establish the minimum own funds requirements determined based on the total value of risk-weighted assets (RWA):

	September 30, 2024*	Minimum capital requirements
BCP	Fully implemented	Capital requirements	Of which:
Consolidated			Pillar 1	Pillar 2	Buffers **
CET1	16.5%	9.56%	4.50%	1.27%	3.79%
Tier 1	17.7%	11.48%	6.00%	1.69%	3.79%
Total	20.8%	14.04%	8.00%	2.25%	3.79%

*Including unaudited earnings for the first nine months of 2024. Official ratios without results for the 3rd quarter of 2024: CET 16.2%, Q1 17.4% and Total 20.5%.

** Includes Capital Conservation buffer of 2.5%, O-SII buffer of 1.0% and Sectoral Systemic Risk buffer of 0.29% (variable value with reference to september 2024).

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Buffers include the capital conservation buffer (2.5%), the buffer for other systemically important institutions (O-SII: 1.0%) and the Sectoral Systemic Risk buffer of 0.29% (variable, corresponding to 4% on the amount of risk exposures on the retail portfolio of loans to individuals collateralized by residential properties located in Portugal, calculated in pursuant to paragraph 3 of article 92 of Regulation (EU) 575/2013, at the highest level of consolidation in Portugal, considering the applicable legal framework).

In addition to these buffers, the counter-cyclical reserve to be applied in Poland from September 2025, in the size that will be applicable at the consolidated level, as well as the counter-cyclical reserve to be applied to exposures in Portugal from 1 January 2026 to be disclosed by the Bank of Portugal following the public consultation process which had a reference of 75 bp.

The estimated ratios as of September 30, 2024, on a consolidated basis, exceed the minimum required CET1, Tier 1 and total ratio by a wide margin, including all the reserves mentioned above, demonstrating the Bank's solid capitalization.

End of announcement Banco Comercial Português, S.A.