Decisões estratégicas para a concentração de instituições financeiras: a oferta pública de aquisição não concretizada do BCP ao BPI

Mestrado em Contabilidade e Gestão das Instituições Financeiras

BPI

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Banco BPI

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Banco BPI: Equity research report

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

BPI

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Banco BPI: Equity research

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Banco BPI SA: Equity research

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

BPI: Equity research

UNL - NSBE

Banco BPI and the reimbursement of contingent convertible subordinated bonds (CoCos)

This case study focuses on the BPI’s recapitalization plan, its causes and the reasons for the early reimbursement of CoCos in June 2014. The need for a capital intervention and the subsequent subscription agreement with the Portuguese Government of €1 500 million Core Tier 1 instruments were the result of a temporary capital buffer for sovereign debt exposures imposed by the European Banking Authority. The capital increase, the positive earnings in 2012 and 2013, the improvements in the sovereign debt crisis, the implementation of Basel III, in addition to the public exchange offer and the conversion of deferred tax assets into tax credits are the main factors for concluding the entire recapitalization operation three years before the deadline.

Banco BPI SA financial institutions

Equity research report

Monitoring liquidity risk at BPI GA

Field lab: Business project

Bactericidal/permeability-increasing protein (BPI) and BPI homologs at mucosal sites.

At mucosal surfaces, we must co-exist with a high density of diverse microorganisms; therefore, protection against these occurs on multiple levels. Leukocyte- and epithelial derived-antimicrobial peptides and proteins (AMPs) comprise an essential component of immune defense. These molecules possess antibacterial, antifungal and signalling properties and probably contribute to defence and maintenance of homeostasis between the host and commensal microorganisms. Among these AMPs is bactericidal/permeability-increasing protein (BPI), an antimicrobial protein with potent endotoxin-neutralising activity, and several homologs. This review explores the roles of BPI and and its homologs at the mucosal interface. Congeners of BPI are under biopharmaceutical development as novel anti-infective agents, highlighting the potential therapeutic relevance of this protein family.

Autoantibodies against bactericidal/permeability-increasing protein (BPI) in children with acute pneumonia

Antineutrophil cytoplasmic antibodies directed against bactericidal/permeability-increasing protein (BPI), an inhibitor of a lipopolysaccharide of gram-negative bacteria, are a common feature of chronic neutrophilic inflammatory processes such as cystic fibrosis. We investigated whether serum and salivary anti-BPI autoantibodies also appear in the course of acute pneumonia in 24 otherwise healthy children. Nine (38%) and four (17%) patients had detectable serum anti-BPI immunoglobulin G (IgG) (> or =4 IU mL(-1)) and IgA (ratio> or =1.2), respectively, on the day of hospital admission (day 0). There was no increase in the rate of occurrence or the concentration of these antibodies in the convalescent sera obtained on day 30. The presence of anti-BPI IgG on admission did not correlate with inflammatory markers (peripheral white blood cell count, C-reactive protein) or temperature on admission. Also, salivary anti-BPI IgA, determined on days 0, 3-5 and 30, did not appear during the course of acute pneumonia. In summary, a substantial proportion of previously healthy children have pre-existing anti-BPI IgG autoantibodies. Acute neutrophilic infection, i.e. pneumonia, however, neither triggered the appearance of new antibodies nor boosted the concentrations of pre-existing ones. Thus, in typical acute pneumonia in children, autoantibodies directed against BPI may not have clinical significance.

O Valor da Marca Banco BPI – Um Estudo de Caso

Este estudo teve como principal objetivo determinar o valor da marca Banco BPI na perspetiva dos clientes e financeira, recorrendo-se à distribuição de 250 inquéritos a clientes BPI para determinar o valor da marca na perspetiva dos clientes e à aplicação do método EVA para determinar o valor da marca na perspetiva financeira. Os inquiridos demonstraram uma perspetiva positiva nas várias dimensões do valor percebido da marca, no entanto a dimensão que apresentou a média mais elevada foi a notoriedade e a mais baixa foi a avaliação global da marca. De acordo com a análise fatorial exploratória efetuada, constatou-se que há duas componentes (fatores latentes) que parecem explicar o valor percecionado na perspetiva dos clientes. A primeira está relacionada com a confiança e fidelidade que os clientes possuem para com o Banco BPI e a segunda com o conhecimento das características do banco. Por sua vez, a qualidade percebida possui um peso semelhante em ambas as componentes. Ao longo do período temporal histórico considerado observaram-se EVA positivos para o Banco BPI. Através da comparação do EVA deste com o seu benchmark (Millennium BCP) verificou-se que o EVA do BPI é superior. O valor da marca na perspetiva financeira foi obtido através do método EVA usando diferentes cenários possíveis para o crescimento dos resultados e capitais investidos e por comparação com o valor da empresa, usando variáveis do benchmark. Desta forma, obtiveram-se resultados positivos em ambas as perspetivas, tal como era esperado, pelo que se concluiu que a marca Banco BPI possui um valor global positivo.