“Toxic Campaign” away new investors Montepio – Jornal de Negócios – Portugal

The management of Montepio admits that there can be no investors to make investment of 200 million that will make the mutual savings bank. Institutional “are on hold” to make the investment decision, says the president.

The Montepio will advance already a capital injection of EUR 200 million through injection by capital MGAM with the same name. Expects subsequently there to compensate institutional investment. But, admits António Tomás Correia, such investors may never come.

“We can not but be prepared to not happen,” took over the leader of the savings bank, at the press conference in which It showed a decrease of 72% of profits in the first quarter. For Thomas Correia, “there is a poisoning campaign” to run at this time. And investors “are resisting to see where stops the campaign.” On what is concerned, the manager does not lengthened:.. “This is a very exciting moment always is an election year” for the presidency of mutual association, which controls the savings bank

“These latest events gave a holding pattern” the investors said, referring to news about the box and on the audit ordered by the Bank of Portugal. Before that, there were interested and talks. But never appointed them.

I deplorable and unfortunate that it happened. And they made all the comments [on the BES and Ricardo Salgado].

António Tomás Correia
President of Montepio Geral Mutual Benefit Association and Caixa Económica Montepio Geral

The entry of qualified investors – private individuals are out of operation – will be made through a capital increase of the holding fund the savings bank. The Mutual Benefit Association will move forward with the 200 million reinforcement. Then there is “the possibility that authority to put part or all of it to institutional investors with particular characteristics and can contribute to the evolution of the institution and its values ​​with adequate capital levels,” reads the call for the meeting of June 5 that will bring together the holders of the fund units that are spread by small investors – who are asked to abdicate the right to subscribe for new units

Antonio. Tomás Correia admits that the intention to place the units to be issued in the capital increase in institutional can not happen. And there would be the Mutual Benefit Association in this effort: “. It has 2 billion euros of liquidity can perfectly convert it into capital,” guarantees to rule out any problems the possibility of getting there “withheld” the effort to increase capital of the savings bank fund.

The bad image of Montepio forces me to re-apply me for a next term.

António Tomás Correia
President of Montepio Geral Mutual Benefit Association and Caixa Económica Montepio Geral

At the press conference, the bank’s president indicated that the audit requested by the regulator of the financial sector (which always qualified as forensics, but claiming to be only a special audit) found “deficiencies” but said that “over 90% were subject to improvements after 2012 “, the last year under review that year granted a credit of sample.