UPDATE 1-Portugal's BCP plans cash call after steep loss

* Cash call to involve new shareholders

* Likely to tap 12 billion euro line for banks from bailout

* BES also posts loss, but smaller (Adds BES results, quotes, details)

By Sergio Goncalves

LISBON, Feb 3 (Reuters) - Millennium bcp, Portugal's largest listed bank by assets, reported on Friday a steep 2011 net loss of 786 million euros ($1.04 billion) mainly due to a writedown of Greek debt, and said it plans a cash call to meet new EU capital targets.

Outgoing Chief Executive Carlos Santos Ferreira told journalists the capital raising is likely to involve new shareholders taking stakes in the bank, while one or more existing shareholders would reinforce their stakes.

"Aside from current shareholders, BCP has received manifestations of interest that allows it to count on the participation of major investors in the future capital increase," Santos Ferreira said.

Analysts and financial sector sources have said BCP is likely to need around 3 billion euros in new capital to meet the European core Tier 1 capital ratio target of 9 percent in June, expecting the lender to get a Chinese or Brazilian state-controlled bank as a shareholder.

He said the bank also planned to resort to "temporary capital", but did not elaborate. The bank has in the past said it could use a stand-by line for bank capitalisation from Portugal's 78 billion euro bailout provided by the European Union and International Monetary Fund.

He said the net loss, which compared with a profit of 345 million euros in the previous year, stemmed largely from 584 million euros in impairments from Greece and the sovereign crisis.

Banco Espirito Santo earlier posted a 2011 net loss of 109 million euros ($143.03 million) after a profit of 557 million euros a year earlier, as the bank was hit by Portugal's debt crisis and the transfer of its pension assets to the state. It said it is unlikely to tap the bailout line.

BCP also took a 271 million euro hit from bad loan provisions, which were raised as demanded by EU/IMF inspectors and lost 117 million from a transfer of pension fund money to state coffers.

The government struck a deal with banks in December to transfer 6 billion euros to the state to help Portugal meet its budget deficit target of 5.9 percent.

Net interest income rose 4 percent to around 1.58 billion euros. BCP operates in growing economies like Angola, Mozambique and Poland as well as recession-hit Portugal.

Analysts had expected BCP to post a loss of between 560 million and 950 million euros. BCP shares closed 0.7 percent higher at 0.142 euros before the results were released.

BCP also called a shareholder assembly for Feb. 28 to replace the board and Santos Ferreira as CEO.

($1 = 0.7592 euros) (Reporting By Sergio Goncalves; Writing by Andrei Khalip; Editing by Erica Billingham)