BNA Order No. 3/2020, of 28 February 2020, established that Financial Institutions may not acquire real estate that is not necessary for the pursuit of their corporate purpose, their setting-up and their operations. Financial Institutions authorized to carry out credit activities will now be able to own real estate that is not intended for their own use – which must be sold within two years – provided that the relevant acquisition results from the repayment of own credits.

The sum of resources invested in fixed assets, net of depreciation and amortization and accumulated impairment losses, less financial investments, may not exceed 50% of the value of Regulatory Own Funds.

Financial Institutions have until 31 December 2020 to comply with the provisions of this Order.

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