DBRS views Banco Comercial positively

DBRS said it changed its outlook for Banco Comercial Portugues SA to positive from stable and affirmed its BBB(low) rating.

“The confirmation of the ratings and the change of the trend to positive reflect the progress that BCP has made in improving its profitability, reducing non-performing assets and strengthening its capital buffers. In 2H 2022 and Q1 2023, the bank’s profitability has benefitted from higher revenues mainly due to the repricing of its floating loan portfolio on the back of rising interest rates. Results also confirmed the improvements in asset quality in Portugal and good efficiency levels,” DBRS said in a press release.

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