Banco Comercial Portugues

M&A Activity • Nov 2, 2021

2 November 2021

Banco Comercial Português informs about the completion of the sale of Banque Privée BCP (Suisse) SA

Following the announcements dated 29 June and 2 July, Banco Comercial Português, S.A. ("BCP") informs that, further to the non-opposition by the competent local supervisory authorities and the satisfaction of the remaining relevant conditions, the sale of the entire share capital of Banque Privée BCP (Suisse) SA ("Banque Privée") to Union Bancaire Privée, UBP SA has been completed today.

The amount received for the sale of Banque Privée's share capital is CHF 113,210,965.00, reflecting the distribution of dividends and the share capital reduction that have occurred in the meantime. Considering this amount, the transaction has a (positive) impact on the consolidated results for the current year, on a pro forma basis as at 30/09/2021, of approximately € 46 million and a positive impact on the consolidated CET1 ratio of 15 basis points and on total capital of 17 basis points, confirming the amounts previously announced. The final price is still subject to adjustments arising from the evolution of assets under management and the activity of Banque Privée BCP (Suisse) SA.

The sale of Banque Privée allows BCP Group to pursue its strategy of focusing resources and management on core geographies, enhancing their development and thus creating value for stakeholders.

End of announcement Banco Comercial Português, S.A.