The drop in customer funds suffered by Caixa Geral de Depósitos in the second quarter was due to the institutional segment, whose decline was higher than the growth seen in household deposits.
According to official sources the bank, “the reduction in total assets in the second quarter has not because any relationship with the retail customer deposits, explaining exclusively by specific movements of large institutional clients. ” The Business reported, following the results of the public bank – announced on Wednesday -. That CGD has reached the end of June euros to 72,065 million customer savings, against 73,458 million recorded at March 31 The the bank accounts is that this descent of resources did not come from the private sector, which increased, though not offsetting the decline in institutional.
“CGD clarifies that the evolution of deposits from its private clients a positive trend of the first quarter from the end to the end of the second quarter, falling from 46.7 billion to EUR 47 billion, or over 291 million three months or about 100 million per month, “said an official source of the institution, adding that” these increases have been consistent over the past few quarters. “
Box had losses of 205.2 million euros in the first six months of this year, a deterioration compared to profits of 47 million recorded at the end of June 2015. This reflects mainly the fact that the state bank has recorded losses in its portfolio of public debt, contrary to what happened a year ago, when the CGD had extraordinary gains of 302 million in government bonds.
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