Banco Comercial Portugues

Capital/Financing Update • Dec 18, 2023

18 December 2023

Banco Comercial Português, S.A. informs about the upgrade of senior unsecured debt and deposits ratings by DBRS Morningstar

Banco Comercial Português, S.A. ("BCP" or "Bank") informs that DBRS Morningstar rating agency on 18 December 2023, upgraded the Bank's senior unsecured debt ratings from BBB (low) to BBB and deposits ratings from BBB to BBB (high), one notch above the Intrinsic Assessment, reflecting the legal framework in place in Portugal which has full depositor preference in bank insolvency and resolution proceedings.

This upgrade of BCP's ratings by DBRS Morningstar reflects the improvement in profitability and the strengthening in capitalization levels while maintaining adequate asset quality. The stable trend reflects DBRS Morningstar expectations that the Bank will maintain adequate profitability levels and solid capital buffers. The stable trend also takes into consideration the Bank's adequate funding structure coupled with solid liquidity buffers.

End of announcement Banco Comercial Português, S.A.

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