Troika was aware of the exposure to the GES, says ex-director … – publico

Troika was aware of the exposure to the GES, says ex-director … – publico

                 

                         
                     

                         
                     

                         

                 

 
                         

Isabel Almeida, former director of the former Banco Espírito Santo, is on Tuesday to answer questions from Members, as part of the inquiry committee to the collapse of the Holy Spirit Group, which ensured that the decisions passed by Amilcar Morais Pires and Ricardo Salgado and that “it was impossible for any employee know that the accounts were tampered with.”

                     

                          At the beginning of the hearing, Isabel Almeida read a short speech, in which he explained that reported “exclusively” to the former CFO of BES, Amilcar Morais Pires, who was a direct collaborator, adding that never took no decision on its own initiative but under the guidance of director responsible financial officer.

“All decisions” financial officer “who did not fit” what was defined, were submitted to the administrator with the portfolio [Amilcar Morais Pires] “that took autonomously” or in conjunction with the CEO, Ricardo Salgado, and with the Executive Committee. “All decisions, without exception, were not taken by me, nor could they be.”

“I believed to the bottom on the viability and sustainability” of BES that “I and my team” fought until the order for their survival, also said Isabel Almeida, who exercised their voting rights in the capital increase [June 2014] and lost, like other shareholders, all you had invested and “representing substantial part of the savings of a lifetime. “

The president of the commission of inquiry, Fernando Negrao, announced at the beginning of the session that Isabel Almeida will speak of all the themes, with the only limitations imposed by being accused in a lawsuit against -ordenacional moved by the Bank of Portugal (BoP) and in criminal proceedings. For this reason it is precluded from addressing matters on Eurofin and about placing obligations of all nature.

Isabel Almeida confirmed that in May the committee related parties gave instructions to reduce exposure BES to ESFG (Espírito Santo Financial Group), which was around EUR 600 million., but before the question about how to do so by taking into account the difficulties of framework that existed, exposure rose to 733 million with strengthening of collaterals. The old BES director believes that this operation “would be the knowledge of the Bank of Portugal.”

At one point, in the context of uncontrolled, BES point in financing the companies of the GES, which then appropriated the funds. For Isabel Almeida three movements that have not met the bop guidelines: an operation that “went out of control” related to the 72 million of Nomura [loan Nomura to ESFG], to which are added two more irregularities, a 20 million funds held by Banque Privée and EUR 28 million left in Esfil- Holy Spirit Financière, but whose fate would Rioforte.

On whether or not he had freedom of action, Isabel Almeida said that “the final decision was administrator”: “I always had the ability” to express opinions and give “arguments” and if “did not agree” with the solutions, to provide “alternative,” he said, admitting that who headed the department gave the BES annually 300 million in market operations and none of them was “at risk”.

“It was quite impossible for any employee of the BES, Now New Bank, knowing that the accounts “of companies [ESI, Rioforte, ESFG] that issued commercial paper placed to retail branches” were doctored “, says Isabel Almeida, who added that she herself was unaware of that fact. “The ESI was a company” apparently without problems, stresses the former financial director of BES. And also guarantees “that pressure was never made” from the bank employees to sell commercial paper corporate clients, as “the product was attractive” and the demand exceeding the supply. “Interest on time deposits were already download” he recalls.

The same BES former director evokes who asked Ricardo Salgado and Pires Morais who were explaining to new managers Bank of Vítor Bento team “the whole theme of the obligations” [mobilized through Eurofin], but both “refused”: “. And most can not say”

Isabel Almeida refers to passive concealment of ESI and the activity in Angola, and the withdrawal of the Angolan government guarantee to BESA, as factors that led to the collapse of the one who became the second largest private bank.