Banco Comercial Português Profile
Banco Comercial Português, S.A. operates as a Portuguese private sector bank.
The bank, with its decision centre in Portugal, operates and acts with respect for people and institutions, focusing on the Customer, is a distinguished leader in various financial business areas in the Portuguese market and a reference institution on an international level. The bank also holds a prominent position in Africa through its banking operation in Mozambique (in Angola, Banco Millennium Angola - BMA merged with Banco Privado Atlântico-BPA and the bank holds an equity accounted shareholding) and in Europe through its banking operation in Poland. Since 2010, the bank operates in Macau through a full branch.
The company provides a wide variety of banking services and financial activities in Portugal and abroad, where it is present in the following markets: Poland, Mozambique, Angola (through its associate BMA) and China (Macao). All its banking operations develop their activity under the Millennium brand. The company also ensures its international presence through representation offices and/or commercial protocols.
The bank offers a vast range of financial products and services: current accounts, payment systems, savings and investment products, private banking, asset management and investment banking, including mortgage loans, personal loans, commercial banking, leasing, factoring and insurance, among others. The back-office operations for the distribution network are integrated to benefit from economies of scale.
In Portugal, the company is focused on the retail and companies markets, providing services to its Customers in a segmented manner. The bank makes products available to Customers through its network of branches, offering a wide range of products and services.
The bank had over 2.7 million active customers. The bank also has representation offices (in the United Kingdom, in Switzerland, in Brazil and in China, in Guangzhou), and commercial protocols (the U.S.A., France and Luxembourg).
In addition, the bank has remote banking channels (banking service by telephone, Mobile Banking and Internet), which act as distribution points for its financial products and services.
Segments
The company conducts a wide range of banking activities and financial services in Portugal and abroad, with special focus on Retail Banking, Companies Banking and Private Banking business.
Retail Banking
Retail Banking includes the following business areas:
Retail network, which ensures the monitoring of individual customers, entrepreneurs, merchants and small and medium enterprises with a turnover less than Euros 2.5 million. The Retail network strategic approach is to target 'Mass Market' customers, who appreciate a value proposal based on innovation and speed, as well as Prestige and Small Business customers, whose specific characteristics, financial assets or income imply a value proposal based on innovation and personalisation, requiring a dedicated Account Manager.
Retail Recovery Division that accompanies and manages the responsibilities of customers or economic groups in effective default, as well as customers with bankruptcy requirement or other similar mechanisms, looking through the conclusion of agreements or payment restructuring processes that minimizes the economic loss to the bank.
ActivoBank, a bank focused on clients who are young, intensive users of new communication technologies and who prefer a banking relationship based on simplicity, offering modern products and services.
Companies, Corporate and Investment Banking
Companies, Corporate and Investment Banking segment includes:
Companies and Corporate network, which monitors clients included in the corporate segment, economic groups and institutional entities, with a turnover higher than Euros 2.5 million, offering a wide range of traditional banking products complemented by specialised financing.
Large Corporate network that assures the relationship and the monitoring of a set of Groups / Clients, which in addition to Portugal, develop their activity in several geographies (Poland, Angola, Mozambique and East), providing a complete range of value-added products and services.
Specialised Monitoring Division which carries out the monitorisation of business groups that have high and complex credit exposures or that show relevant signs of impairment, in order to defend the value and managing credit risk, in a sustainable medium and long term perspective.
Investment Banking unit, that ensures the offer of products and specific services, in particular financial advice, including corporate finance services, capital market transactions and analysis and financing structuring in the medium to long term.
Trade Finance Department (from Marketing Division for Corporate, Business and Institutional since the end of 2021), which coordinates the business with banks and financial institutions, boosting international business with the commercial networks of the bank and institutional custody services for securities.
Specialised Recovery Division which ensures efficient tracking of customers with predictable or effective high risk of credit, from Companies, Corporate, Large Corporate and retail networks (exposure exceeding Euros 1 million).
Interfundos with the activity of management of real estate investment funds.
Private Banking
The Private Banking segment, for the purposes of geographical segments, comprises:
Private Banking Division in Portugal, which ensures the monitoring of clients with high net worth, based on a commitment to excellence and a personalized relationship with clients.
Wealth Management Division, which provides advisory services and portfolio management for clients in the Private Banking network and the affluent segment.
For the purposes of business segments also includes Banque Privee BCP in Switzerland and Millennium bcp Bank & Trust in Cayman Islands (entity liquidated in 2022) that are considered Foreign Business on geographical segmentation.
Foreign Business includes the following segments:
Poland, where the Group is represented by Bank Millennium, a universal bank offering a wide range of financial products and services to individuals and companies nationwide.
Mozambique, where the Group is represented by BIM - Banco Internacional de Moçambique, a universal bank targeting companies and individual customers.
Other, which includes the contribution of the associate in Angola and the contribution of the discontinued operations in Switzerland and Cayman Islands.
Investment Banking
In Corporate Finance, the bank participated in several projects in Portugal and in the international markets, providing financial advisory to its customers and to the bank itself in various projects, involving researching, developing and completing M&A transactions, valuation of companies, corporate restructuring and reorganization processes, as well as research and economic-financial analysis of projects. In Mergers & Acquisitions, the company should highlight the assistance to Encosta da Parede project's promoters in the sale of a minority stake in the project and in raising mezzanine financing, as well as the advisory to Teixeira Duarte in the disposal of Bonaparte, the owner of Shopping Cidade do Porto.
Loans and Advances to Customers
The company offers mortgage loans, finance leases, factoring operations, current account credits, overdrafts, discounted bills, and overdue loans - less than 90 days, and overdue loans - over 90 days.
History
Banco Comercial Português, S.A. was founded in 1985. The company was incorporated in 1985.
