Sunday, August 17, 2014

Marcelo on the audit Montepio “has nothing to do with the BES” – iOnline

Marcelo on the audit Montepio "has nothing to do with the BES" – iOnline

Marcelo Rebelo de Sousa said, the usual comment Sundays at TVI, that the audit Montepio General has nothing to do with the case of the Espirito Santo Group (GES), ensuring that this relates to the verification procedures in relation the credits.

“As far as I could ascertain, it is a reality that does not endanger depositors or associates,” he said. “This is an audit of procedures to verify the functioning of the bank as a credit,” further added.

The General Montepio is undergoing a forensic audit at the request of the Bank of Portugal and developed by Deloitte for the years 2009 to 2012 This information, advanced RTP, was confirmed by the chief justice.

Speaking to i, Tomás Correia removes the link between this audit and the bank’s exposure that drives the Espírito Santo Group (GES). “It is an audit of the procedures adopted by Montepio in 2009, 2010, 2011 and 2012 that has nothing to do with exposure to the Espírito Santo Group (GES)”.

This possibility was advanced by several media after last week, Montepio announced an increase in provisions in the interim accounts for 165 million euros to cover potential losses on loans to GES companies. The specific value of these impairments was not disclosed by the bank had profits of € 11.9 million.

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