Banco Português de Negócios

Banco Português de Negócios (Portuguese pronunciation: [ˈbɐ̃ku puɾtuˈɣeʒ ðɨ nɨˈɣɔsjuʃ], lit. 'Portuguese Bank of Business'), or simply BPN, was a Portuguese banking institution. It used to be a private bank, but was nationalized by the Portuguese Government in 2008 after a bad management and malpractice-related debt of 1.800 billion euros and several irregularities uncovered in the institution. In 2012, BPN, stripped of many of its debts and bad loans, was sold to Angola’s Banco BIC for €40 million.

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