Portugal BCP repays 1 bln in LTRO cash to ECB

LISBON Wed Jan 30, 2013 11:49am EST

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LISBON Jan 30 (Reuters) - Portugal's largest-listed bank Millennium bcp has repaid 1 billion euros in long-term loans to the European Central Bank out of a total of 12 billion euros it received from the ECB in two liquidity injections in late 2011 and in 2012.

"We have repaid 1 billion in LTROs. The need for liquidity is now completely different than a year ago so we saw the opportunity to pay down. Our liquidity position is comfortable," a bank spokesman said.

Funding conditions have improved for banks across Europe since last year, including in bailed-out Portugal. (Reporting By Andrei Khalip)