Stock da Cunha, who was speaking at lunch-conference sponsored by the American Club of Lisbon, said he expected “return to profit in 2016,” but that the New Bank still has “a long way to go”, welcoming the fact that, since the beginning of activity in August, by the end of last year, bank deposits increased by EUR 2 billion.
The president of the New Bank also said that thanks to this increase in deposits, you can reach the minimum required level of 120% in the transformation ratio (credit / deposits) at the end of the semester in force.
Stock da Cunha noted that the increase in deposits allowed the lowered conversion ratio of 140% in August to 128% at the end of last year. “When the New Bank began had a 140% conversion ratio, and late last year has finished with 128% and hope at the end of the semester have a 120% conversion ratio,” he said.
The head of the New Bank stated that defined three lines of direction for the bank, including, “talk into” motivating people working in the institution and applying the principles of good governance, alias “one of the problems” of who suffered the old BES as “not distinguish what is to be manager and what is to own.”
When he reached the New Bank, Stock da Cunha said his priority management was having liquidity and capital, but at this point already has the main objective of profitability.
For this, the manager has created “the ten commandments that we will take the promised land”, as rated to ensure that the bank could last at least until 2050. Among the “commandments” is prudence, “we have to be prudent the risk that we run because we are working with customers money. ”
In terms of capital, the New Bank closed the year with a solidity ratio “above 9%.”
tags: American Club, BES Stock, Cunha,
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