BANIF


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AcronymDefinition
BANIFBanco Internacional do Funchal (Portuguese bank)
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Quadro 2--Indices de Divulgacao (ID) das Instituicoes Bancarias analisadas Instituicoes ID (%) BB 49% ITAU 51% BRADESCO 52% CEF 38% SANTANDER 46% HSBC 46% VOTORANTIM 49% SAFRA 45% CITIBANK 34% BTG PACTUAL 23% BANRISUL 35% DEUTSCHE 23% CREDIT SUISSE 31% BNB 54% BNP PARIBAS 35% VOLKSWAGEN 29% BIC 49% JPMORGANCHASE 26% BMG 38% FIBRA 32% BANESTES 42% MERCANTILDO BRASIL 46% CRUZEIRODOSUL 35% RABOBANK 38% BRB 35% PINE 31% FIDIS 22% MORGAN STANLEY 28% CNH CAPITAL 20% INDUSVAL 35% MERRILL LYNCH 52% BANIF 31% CSF 42% BANESE 38% INDUSTRIALDO BRASIL 35% HONDA 33% BANPARA 42% STANDARDBI 50% GOLDMANSACHS 46% SMBC 40% ING 20% MODAL 38% GUANABARA 38% MORADA 28% INTERMEDIUM 31% RIBEIRAOPRETO 29% STANDARD CHARTEREDBIS.
In particular, the Commission found that the additional state aid would facilitate the sale of a large part of Banifs activities, including its deposits, to a strong purchaser, which will allow the transferred activities to return to long-term viability within the new entity.
The measures approved today now enable Banifs orderly exit from the market, and for a robust bank to take over a large part of its activities to the benefit of its customers.
1 billion in 2013, which the Commission had temporarily approved in January 2013, Banifs viability could not be restored on a stand-alone basis.
255 billion in aid measures to support the sale of Banifs assets and liabilities to the purchaser, as well as aid amounting to 422 million contained in the asset transfer to the asset management vehicle.