The Court of Auditors says it does not yet have all the data for collapsed Banco Português de Negócios, so it can not give a precise end of the year figure for 2015, but the failure will have cost the taxpayer at least €3.2 billion.
The nationalisation and reprivatisation of Banco Português de Negócios (BPN), whch folded in 2008 under a mountain of debt, will have cost at least €3.2 billion by the end of 2015 according to the monitoring report from the budget execution department.
The Court of Auditors clarified that the taxpayers’ bill at the end of 2015 is an accumulation of €735.8 million in 2011, €966.4 million in 2012, €468 million in 2013, €476.6 million in 2014, and €590 8 million in 2015.
Last year's figure is still provisional but will need to be finalised for the 2015 State accounts and is likely to show an even higher figure when final accounts are submitted from the State run companies that are dealing with the bank's assets and debts.
BPN was nationalised in 2008 and marked the first of many banking failures under the regulatory regime of Carlos Costa, the governor of the Bank of Portugal.
In September 2010, the companies Parvalorem, Parups and ParParticipadas were established to liquidate the bank’s assets.
And four years of being managed by Caixa Geral de Depósitos, BPN was sold off to Banco BIC in Angola for just €40 million.
The botched resolution for Banif, the banking failure hidden from view by the former coalition government until the Socialists took over, cost the taxpayer €2.59 billion last year: again, this figure will rise over time.
See also: 'Portugal's failed banks have cost the public €14 billion - and rising...'
