BCP sinks more than 4%. Drop cycle takes 12% off the bank’s value

  • ECO News
  • 25 September 2019

The Bank led by Miguel Maya sinks again, renewing 2017 minimums. Alert on results is leading stocks to sink more than 4%.

The Banco Comercial Português (BCP) is once again being heavily punished by stock market investors. The actions of the institution led by Miguel Maya, which warns of the difficult year that the bank is having, are sinking 4% in the portuguese stock exchange. It raises to more than 12% the cumulative fall in this negative cycle.

“This is a more difficult year than the one we had anticipated when we made the budget,” said BCP’s CEO to ECO. After announcing profit growth in the first half of the year, reaching 170 million euros, Maya warned about the challenges ahead, but now he is even warning investors.

Miguel Maya’s statements are weighing on BCP bonds that fall 4.11% to 17.97 cents, and are already trading at their lowest value since April 2017.

This fall brings to four the number of consecutive negative sessions for the securities of the Portuguese bank. They retreated 1.32% in the previous session, having sunk 4.09% in the first session of this week. At the end of last week, BCP had already shown a significant decline, retreating 3.13%.