and Herminia Costa António Saraiva
Bank confirms and says audit ensures that this is common practice in supervisory activity.
The Montepio General (MG) ensures that the forensic audit of the Bank of Portugal (BoP) accounts of the institution is not based on “suspicions of criminal offenses” and that research regulator “has nothing to do with the GES / BES “. Official source of the bank led by Tomás Correia says this is a “habitual practice that constitutes a” preventive action “by the regulator.
” There is no relationship between these acts of supervision and, I quote, ‘strong suspicions of criminal offenses’, “says the Daily Economic official source Montepio General, which confirms that the forensic audit of the Bank of Portugal incende accounts in 2009-2012, and in particular” on renewal of loans, chosen by sampling. “
The news of the investigation the regulator was put forward last Friday by RTP, explaining that the audit would focus exposure Montepio the Espírito Santo Group. Banking institution denies this claim, ensuring that “this audit has nothing to do with the GES / BES .”
“In this case and how accounts are public, we can say that MG provisions presented above the minimum requested by bop. . Sometimes about 85% of the exposure value to some customers, “says A little over a week, Montepio presented the results of the first half, having released an enhanced, more than doubled – from 292 to 127.4 EUR 9 million, provisions and impairments recorded in the same period, partly due to provisions made to safeguard the exposure to GES.’s “Public” newspaper reported in July that the direct and indirect exposure of Montepio General / Caixa Económica areas financial and non-financial GES may exceed € 200 million.
According to RTP, the audit requested by Portugal in Portugal is being carried out by a team from Deloitte who is on the bench since 25 July, with specific tasks assigned by Carlos Costa, governor of BoP team, aimed at a number of customers that Montepio refuses to name, shielding themselves of bank secrecy.
The General is a Montepio of the three institutions, beyond the BES, which is undergoing forensic audit ordered by the Banco de Portugal, which had been confirmed by the Governor at a hearing of the Committee on Budget and Finance that aimed the situation of the Holy Spirit Group. At the time, Carlos Costa guarantee that these investigations are “very ad hoc basis and not have the degree of materiality that justified the forensic audit to BES ,” he said.
“Forensic audits are habitual practices of the regulator. convictions are not but rather are embedded in MRE to understand if market participants are complying with the rules, that is, whether they are more or less cautious in their action, “says the now official source Montepio General.
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