Wednesday, October 26, 2016

Ulrich: “If something is that the BPI does not have at this time is fragile” – the Public.en

In the last nine months, the BPI has revealed profits of 182.9 million euros, a 21.2% compared to the same period last year, with the african operations, in angola and mozambique to collaborate with 125,4 million euros.

"If something is that the BPI does not have at this time is a weakness," said this Wednesday Fernando Ulrich during the press conference of the disclosure of the accounts of the third quarter. The CEO refuses to "fully" the thesis that the institution will become more fragile after you sell to Unitel in the field of management and share capital of Banco de Fomento de Angola (BFA), which has contributed to the 121.9 million for the positive results of the bank. The reduction of provisions and impairments for credit totaled 53 million euros, more than half of the registered in the first nine months of 2015.

The banker confirmed that it will be scheduled a general meeting in the second fortnight of November to approve the sale of 2% of the BFA group Unitel, Isabel dos Santos, the second largest shareholder of BPI. The transaction results from the need to stabilize the capital of the Portuguese bank, which will retain 48% of the BFA and the right to appoint two non-executive directors.

For Ulrich, the resolution of the dispute on the back of the BFA ultimately strengthen the BPI, which shall comply with the requirements of the ECB, reducing its exposure to Angola. The banker declined to speak of the TAKEOVER of CaixaBank in course be subject with respect to the offeror.

"If there are matters in which we are in complete agreement with CaixaBank [47% BPI] is on the New Bank", stressed the CEO, who ranks as a "lie" to say that there are disagreements. The protest comes after the agency Bloomberg have reported that leaders of CaixaBank, Spain, afiançaram analysts have no interest in acquiring the New Bank. The statements that follow the transmitted by the CEO of the Spanish group, Gonzalo Gortázar, in July, during a breakfast with the media the Portuguese in Barcelona. It is unknown whether any of the parties changed, however, position.

it is worth mentioning that in spite of the competition of sale of the New Bank have entered, once more, in the final phase, continues without knowing what is going to be the model and the conditions of the business. Too many unknowns for the selected by the Resolution Fund (BPI, BCP, Apollo, Centerbridge, the Lone Star and China Minsheng) to move forward. "We signed a confidentiality agreement," but "surely that was not done anything that deserves to be disclosed to the market." Ie: the BPI still not achieved a firm offer.

At the press conference, the banker refused to comment the adi for the General Box of Deposits of the former vice-chairman António Domingues, who repeated it insistently to have "a great friendship" and only revealed that all of its income is denominated in the reports of the bank [that is: the salaries and bonuses in cash or in securities].

Called to take a stand on another controversial issue, this related to the Government’s intention to create a vehicle to park in the non-performing loans of banking, the banker explained: "with Us no one spoke" and "I have no idea". The BPI is out. And "I don’t understand what is the problem, not the solution". Asked if it is possible to be called to be involved in the resolution of the issue, commented: "don’t pass me by the head that the banks are evil [with credit problems bad debts] are to be saved by the seats good." "It is enough that we have to contribute to the Resolution Fund."

And concluded with a message: “we Should be less hillbillies" and react to the opinions of the international authorities" [European Commission and international Monetary Fund], as well as "the studies do not know where, who-knows-done as". This, because they classify the non-performing loans "as one of the major problems of the Portuguese economy", but are ignorant of what goes on "in all the countries that have under their jurisdiction because there are worse situations".


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