New Bank: losses this year – Journal SUN

New Bank: losses this year – Journal SUN

The CEO of the New Bank, Stock Eduardo da Cunha, announced today that its esquipa is working for the bank to return to profits, but they only come in 2015. It is understood: the bank is in such bad shape that in 2014 will still have losses.

I do not know any details, but not surprise me that the bank have a mountain of bad debts, which would lead to a further increase of capital.

Of the 4,600 million euros lent the banks, with the guarantee, the New Bank, probably not everything will be recovered. Some consider a victory if the Portuguese banking system, which lent the money, will have losses of 1,000 million euros. I do not think so, as

customers of the banks, or the state itself, will be refunded in full, in one way or another.

Health to transparency Stock Eduardo da Cunha. There are not many managers who, in February, that will take losses in the rest of the year. Still, I think that this statement is a bad sign.