The period that followed the acquisition of Banif gave the António Vieira Monteiro the best nine months of a year ahead of Santander Totta. Since 2012, when the chief executive took the helm, never the capital bank Spanish had results so high between January and September.
the profit of The Santander Totta was 293,7 million euros in the first nine months of this year, which represents an increase of 66.2% compared to the same period of 2015. The year of 2012, the first of which had already with the leadership of Vieira Monteiro, was the one with a value closest to: 230 million, but with an extraordinary revenue of 222 million.
For the advancement of 66.2% of the profits of the financial institution until September 2016 said the increase of 31.4% in the financial margin, the basis of the business that represents the difference between interest charged on loans and interest paid on deposits. Looking to the years in which the executive chairman is in the bank, a large part during the crisis of the sovereign debts, never if there has been a rise of two digits of the heading.
The justification given by the bank to the evolution passes by “lowering the cost of deposits”. In addition, account also the impact, not identified, “the activity acquired”.
“Given the immediate integration of all the assets and liabilities acquired on the [Already] on the balance sheet of the bank, it is not possible to isolate the impact of the introduction of that commercial activity in the perimeter of consolidation,” noted the bank, in a footnote in the press release-disclosure of accounts.
what also helped the advancement of the profits of the Santander Totta was the reduction of the impairment losses, on the order of 24%.
The Banif is having effects on the Santander-Totta – are income, are cost –, but you will still have more in the future. “Some of the results we get from this investment, but it’s not that our strategy in terms of the future,” said Vieira Monteiro. One of the costs identified is that of the liquidation of Banif the Bahamas that the CEO of Santander Totta put around 100 million euros. A balance sheet for the overall impact of the bank in Madeira there is. “Only at the end will the account total.”
For already, is completed the integration of the “migration of technological and operational”, the reason why the Totta has been to reduce the services provided by Oitante (with employees who have been transferred to the bank capital the Spanish in the resolution of 20 December).
CEO CASTS DOUBT ON the SALE OF NB
The Santander participated in the first contest the international of sale of the New Bank. It was by the way, and the process also fell. The bank is not in the interested in the second process of alienation of the heir to the BES. António Vieira Monteiro says you don’t know the process, but argues that, if the rules are different, the procedures in the course – and passing for delivery of binding offers this Friday – have to be restarted. “If [the new process] obey different principles [of the first], will require a new specification and a new opening of the process”, launched the president’s executive on Wednesday.