The president of the Bank Customers injured Defence Association, Ricardo Angelo, assured the Parliament that between 60 and 70% of investors in commercial paper of GES that joined the entity are renovated with a conservative profile.
“Between 60% and 70% of our members are retired. They were the weakest link,” accused the head during his hearing in the parliamentary committee of inquiry into the case BES / GES.
Ricardo Angelo stressed that BES account managers, who marketed commercial paper holdings of the Espírito Santo Group (GES) at bank counters, focused on the “people who always had conservative products and have a low financial literacy.” And illustrated:. “90% of the Holy Spirit moved Liquidity Fund and time deposits”
The leader of the injured association ensured that today “there are people who can not understand how we were put in a Alhada these, because I always had products without risk. “
Asked by Members on the profile of the associated entity at the head, Ricardo Angelo said that” the minimum investment [in this category] is 50 thousand euros “and that the average investment of its members is 140 thousand euros. The official said that, according to the data it holds, the client that more invested in commercial paper applied 600 000 euros.
“On Monday, it was a debacle. They joined 80 people” the association representing stressed, justifying this great confluence with the recent statements of the Bank of Portugal and the New Bank. This association are represented about 500 of the 2,500 BES clients injured in the commercial paper holdings of the GES.
“It’s the lowest fringe,” he said Ricardo Angelo, pointing a finger to the action of the Bank of Portugal and New Bank this specific problem. “They think only in the sale of the bank, do not think about money from people,” accused.
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