BPP seeks approval of 750 million

The Private Bank Portuguese (BPP), which operates in the business of 'private banking', asked for an endorsement to the state of 750 million euros in order to combat the difficulties that the financial system through. The request, the first of its kind to be done, is being examined by the Bank of Portugal (bop). In an interview in the 'Business of the Week' of SIC, John tenant, chairman of BPP, explained that this assistance was sought to contract a loan from Citigroup to under the bottom of securities for the banking and 20 billion euros proposed by Government. John tenant still justified the request by the fact that financial markets are in difficulties due to international crisis, revealing that this state is the guarantee only way to save the BPP. The President does not admit, however, concrete problems in the institution he leads. According Joao Loureiro, the BPP is not a bank credit, so "we need financial markets that work" and "the whole financial system" is the crossing difficulties. About a possible sale of the Portuguese Private Bank, renter John indicated only that on the table are several possibilities. The 'Official Business' in its edition this Thursday, advancing to the sale of the bank is being negociad