The Socialist Party sent a letter to the Minister of Finance to question the reasons that prevent the government from responding to alerts from the National Council of Financial Supervisors (CNSF) on the problems associated with the business model of Caixa Económica Montepio Geral – Mutual Benefit Association which is not being properly monitored.
In parallel, the Socialist deputy Pedro Nuno Santos requested the Bank of Portugal (BoP), the Securities Market Commission and the Supervisory Authority for Insurance and Pension Funds provide for access to the letter “sent to the Government in the last quarter of 2014, “and signed by Carlos Costa, Carlos Tavares and Jose Almaça.
As reported the PUBLIC to May 7, the three regulators wrote in October a letter to the Joint Finance Minister to express concern over the current framework management and governance into force on Montepio Geral group (bank and mutual association), they consider not being properly supervised and asking for urgent legislative measures to ensure adequate supervision.
Seven months later, Government still does not act, which is causing apprehension about the future of a group of 175 years, 650 000 members and holds a bank with thousands of customers.
On Tuesday, the Caixa Económica Montepio Geral announced that had a net profit of EUR 9.8 million in the first quarter, down 72.5% compared to 35.5 million recorded in the same period last year.
The PS also asked the CNSF to forward a copy of the minutes of the meeting prior to the decision to write to the Government, and which was discussed in detail the Montepio situation. The bop, the Socialist deputy asks although you audit reports are sent to the Savings Bank held, especially the forensic audit commissioned Deloitte and that “evaluated the major operations of credit and renovation financing, as well as specific audits to model governance of Montepio Geral. “
On Tuesday, the chairman of Montepio Tomás Correia classified the recent news about the problems in the group” poisoning campaign “and assured that the audit requested by the BoP detected deficiencies dating back to 2012, and over 90% have been resolved.
“In August 2014 was broadcasted by media news, according to which, Montepio Geral – Mutual Benefit Association ( holding Montepio Geral) would go on to be supervised by the Authority of Insurance and Pension Funds Supervision (ASSFP), while the Caixa Económica Montepio Geral bank belonging to the same group, would continue under the supervision of the Bank of Portugal, “said the PS in a letter to Maria Luis Albuquerque.
The Socialists remind the minister that the three regulators have you “asked for urgent measures to ensure adequate control and supervision” to the group led by Thomas Correia, and that nothing was done.
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