Banco Comercial Portugues

Capital/Financing Update • Oct 4, 2024

4 October 2024

Banco Comercial Português, S.A. informs about the upgrade of senior debt ratings by S&P Global

Banco Comercial Português, S.A. ("BCP" or "Bank") informs that S&P Global upgraded BCP's senior unsecured debt ratings from BBB- to BBB, keeping the positive Outlook.

This upgrade reflects easing industry risks in the system and BCP's improved credit risk profile, both in absolute and relative terms.

BCP has halved its NPE stock since end-2019, while posting solid profitability, enhancing its capitalization, and maintaining ample liquidity and a balanced funding profile.

S&P anticipates that BCP will continue benefiting from a strong earnings capacity, keeping high levels of efficiency and solid levels of capitalization.

The positive outlook reflects that S&P could raise its long-term rating on BCP over the next 18-24 months if it keeps growing and sustainably preserving its capitalization.

End of announcement Banco Comercial Português, S.A.

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