Thursday 28 April 2011


If I read these news correctly, the head of Portuguese bank BPI (one of the four largest) has admitted that his bank holds: 2.7bn of Portuguese bonds and 0.5bn of Greek bonds.


This in total financial assets of about 10bn, and in total assets of 44bn. (According to here). And, most important of all, with shareholder equity of 1.9bn and own funds of 2.8bn.

Double wow!

Now you know why BPI's chairman, Fernando Ulrich, shows up with a new statement in the press about public finances, macropolicy, and the government almost daily for the past few months. His fate is on the line...

1 comment:

  1. Thats pretty much the position of all Portuguese banks...

    No wonder he criticized Krugman for talking a out defaults: