“The plan foresees the sale of BCP’s operation in Romania in the mid-term, as well as the sale of the bank’s shareholding in Piraeus Bank, acquired as part of the sale of Millennium Bank Greece,” BCP said in a statement.
Millennium Bank Romania’s market share is below 1%.
BCP must sell assets and reduce costs in exchange for EUR3 billion in convertible bonds drawn from a EUR78 billion loan the Portuguese government took last year from the European Commission, the European Central Bank and the International Monetary Fund.
Founded in 2007, Millennium Bank Romania runs 65 units and employs 584 staff.
The bank posted a loss of EUR3.5 million in the January-June period, 47% wider on the year.