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BRIEF-Millennium bcp joins Novo Banco, CGD to manage bad loans
September 28, 2017 / 4:04 PM / 24 days ago

BRIEF-Millennium bcp joins Novo Banco, CGD to manage bad loans

LISBON, Sept 28 (Reuters) - Portugal’s largest listed bank Millennium bcp:

* Says signed agreement with Caixa Geral de Depositos and Novo Banco to create platform to jointly handle bad loans, confirming an exclusive report by Reuters earlier on Thursday, citing a senior government official.

* The three banks intend to manage debts in a joint fashion.

* Initially the platform will manage credits with a minimum value of 5 million euros.

* Other Portuguese banks can join.

* See Reuters' earlier report on the measure for more details. Source text: here Further company coverage: (Reporting By Axel Bugge)

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