The management of Banco BIC Portuguese decide in October whether forward a capital increase operation due to impairments of € 17.7 million which were recorded because of exposure to the Espírito Santo Group (GES).
“This is for the bank or big problem because our shareholders have an extremely strong structure. Suffice it to say that win in Angola $ 200 million [€ 155 million], so if you need to strengthen the Bank’s capital BIC Portuguese, this value, they have no problems doing it “, advanced the chairman of BIC, Mira Amaral, told Lusa.
The need to strengthen the Portuguese capital of Banco BIC will be discussed at the next meeting of the Board of Directors of the Bank of Luso-Angolan capital, which will occur in October, revealed.
Despite rely on financial availability of its shareholders, Mira Amaral admitted that the BIC was “affected” by the crisis in the GES, since, according to the recommendations of the Bank of Portugal, had to be impairments in the order of EUR 17.7 million in the operating account.
The Bank of Portugal forced banks that were exposed to GES to accrue at least 50% of the exhibition, and Banco BIC chose to constitute impairment corresponding to 55% of its exposure, as revealed Mira Amaral.
The exposure of the BIC GES due to “interest and claims data by BPN ‘and were’ inherited ‘by BIC, stressed, adding that the bank leads had” no exposure to subordinated debt of the GES. Only senior “alongside the corporate credit operations of GES.
” We put some liquidity in senior debt, a logic of liquidity management, and the rest are credit operations “coming from behind, pointed .
“Three years ago, when we did ‘due diligence’ [for the purchase of BPN to the State], we stopped going. Three years ago, no one anticipated this, so when we looked at the portfolio [credit] BPN had the ability to accept and not accept each others credits, passing them to Parvalorem “said the guardian.
And reiterated: “At the time there were a number of credits to GES we let pass. Nobody expected such a scenario. And this credit is from the past that was affected and forced us to make a provisioning of around EUR 17.7 million. “
According to the manager,” this is an example of the negative impact on Portuguese economy that are having the problems of GES. “
In addition to the impairments taken, there is still the Bank’s contribution to the BIC BES resolution fund, which amounts to EUR 6.6 million.
“The problem is this: Portuguese banks, since 2012, are paying a special tax that was soon to have gone to this resolution fund. Only in 2012 was for the state budget and the resolution fund was only established in 2013. “
According Mira Amaral, the” bottom line “is that banks paid this excise duty ., 2012, 2013 and 2014 and, from 2013, began to also pay for the resolution fund, so they are “paying twice”
And stressed: “The logic of this special tax should be finance against systemic risk “, via Resolution Fund, and not enter the accounts of the State Budget.
” Now, it is easy to see that when the crisis comes from the BES, the resolution fund has sufficient provisions. So it had to bail out a state loan and a loan from nine banks, where the BIC is also, “he said.
” This is an operating cost and affect the results of this year “he admitted, noting that the contribution of EUR 6.6 million BIC is not for a single year.
And the extraordinary tax on banks that have been paid in 2012, and that adds to the IRC also has an impact on the net results of the entities involved.
“The Portuguese banking sector has seen better days,” found.
Asked if he was waiting to watch the ‘collapse’ of GES, Mira Amaral confessed that he was not completely taken by surprise.
“Do not be surprised if, sooner, or later, the GES would have problems. I’m not like my friend Miguel Beauty was very surprised with the dr. Ricardo Salgado, “he said.
” I knew him for many years, since the time of the government, and I can brag about me being one of those who passed by the government in which he never had, or controlled , rather. Now, since he never controlled me, now is not that I’m criticizing you, “he added.
” I’m already like Fernando Ulrich [president of Banco BPI], he also did not control. But I must say that the size of the numbers beyond what I could have predicted, “admitted Mira Amaral.
” This is to say that I was no longer those guys who would guard. I already admit that the GES would have problems, but the size of the numbers exceeds my expectations, “he concluded.
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