Three years later the Portuguese Commercial Bank to step back positive territory, with a consolidated quarterly profit of 70.4 million euros (loss of 40.7 million in the homologous period of 2014), with international operations to contribute about 55 million.
“Three years ago I made my first presentation of results and today is another important day in the life of the BCP,” said Nuno Amado, on the day that the institution announced a return to profit. The positive result of 70.4 million in the first three months was considered a “done” by Nuno Amado, the current executive chairman, having been achieved in macro economic environment and market “more difficult”.
On Monday, the presentation of the first quarter accounts, the banker noted that there are challenges ahead, notably those relating to the payment of state loan of 750 million [the missing part pay for the financing of 3000 million Cocos ]. A debt that BCP admits settle before 2017, the deadline set in order “to resume their way without state support and autonomously.” “Today we are a stronger bank”, “efficient”, “online with the defined plan “and the prospect is close 2015 with profits which will start” a new cycle, “said Nuno Amado, who made his debut in front of the largest private group in February 2012 (year in which losses totaled 1219 million) .
Asked to comment the BCP merger proposal with the BPI, BCP president said: “What we did was, in early March, saying that we were available to analyze the proposal that seems correct “. This, he says, the trend goes towards “clear consolidation” seen today and that is in line with European guidelines.
The invitation to the merger with BPI came from Santoro, of Isabel dos Santos, the second largest investor bank led by Fernando Ulrich, and emerged in response to the takeover bid launched in February by La Caixa. Amado said that “there are no talks” and that any initiative to involve “two wills” so it will always be “friendly”: “. It will not be a hug but a handshake”
About Process sale of Novo Banco, and given that the BCP is an interested party (for a shareholder resolution fund), Amado argues that “what matters is that [the buyer] is an entity that certifying authorities. If Chinese, terrific, provided you pay “well. The “goal is to maximize” the price, he added.
About the debate will pay back the commercial paper holders GES companies, acquired the branches of the former BES, President of the BCP took the opportunity to recall that the August 3, 2014, day of the measure resolution that divided the BES in two, “the law has changed” which was “one of the consequences of this process” and changed the relationship of the institution with associated entities such as shareholders, bondholders and customers. And thus the assurances given by the authorities to pay the commercial paper lost “validity”:. “Until then also not passed the head coming in to support a competitor, an entity that once competed with us Sorry folks, but it’s life. “
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