Renato Santos
The bank” is determined to buy the customers New retail bank commercial paper of ESI and Rioforte. “
The New Bank is discussing with the Bank of Portugal the last issues to move forward,” the short term “with proposals to customers for the purchase of paper commercial Espírito Santo Group (GES).
“is determined to buy the retail customers of the New Bank commercial paper of ESI [Holy Spirit International] and Rioforte, subscribed in retail network BES until February 14, 2014, “says a statement from the New Bank issued last Thursday, though without committing to a date.
The bank led by Vítor Bento had already assumed the Economic Daily I would take the payment of “commercial paper of retail customers by the due date.”
The New Bank further explained in the letter that the process “suffered some delay, beyond what was required” because “the need to hit a few technical issues with the Bank of Portugal, including safeguarding of prudential obligations and other obligations that resulted from the resolution process itself.”
This position of the New Bank comes after the Bank of Portugal have cleared the bank led by Vítor Bento can come to repay debt issued by companies in the GES and sold to customers BES , the counters of the bank, provided that such payment does not put into question the institution financially. The institution chaired by Carlos Costa reaffirmed however that the Bank is not new debtor of the debt. Also in a statement, the Bank of Portugal said that the New Bank may decide to repay these instruments if they “prove important in maintaining the relationship of trust with customers”, but that it has to “ensure a positive or neutral impact on results, capital ratios and liquidity position. “
In recent times, has been questioned who shall repay debt issued by companies GES sold to BES , with customers of the bank to go public stating they would appeal to the Court to be reimbursed the money invested. In the accounts of the first half of the BES , in which the bank had historic losses of € 3.6 billion, it is said that June 30 was 3.1 billion euros of debt securities issued by companies in GES and signed by BES customers universe. Of these, two billion euros had been taken by institutional customers and EUR 1.1 billion by private individuals.
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