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2010 - Banco Privado Português

On 16 April 2010 the Banco de Portugal withdrew the authorisation given to Banco Privado Português, S.A. (BPP, S.A.) to operate its business. The deposits held with this credit institution became unavailable and the Fund’s guarantee was called on, pursuant to the law.

The cumulative amount of the repayments made or recognised by the Fund in that transaction, as at 31 December 2020, totalled 104.3 million euros, of which:

  • 102,7 million euros in payment orders for depositors of BPP, S.A.;
  • 0,7 million euros for situations where the right to reimbursement was recognised by the Fund, but it was not possible to make repayments for reasons beyond the Fund’s control;
  • 0,1 million euros regarding deposits that have fulfilled the necessary conditions for repayment as of 31 December 2002;
  • 0,8 million euros as provision for deposits covered by the guarantee, made to address third parties' rights to the repayment of deposits that without any other reason for exclusion or doubt: (i) are pledged namely in favour of BPP, S.A., as guarantee for credit granted by that bank; or (ii) correspond to deposits whose holders have debts fallen due and claimable before the BPP, S.A.