Agricultural credit takes Banif resolution to open counter in Funchal – Jornal de Negócios – Portugal

The Agricultural Credit will open by the end of the year, a new branch in Funchal. Is part of a “small expansion plan” that the banking group has outlined to various urban areas and the autonomous region of Madeira.

“It was an area that was not covered,” explains Licinius Pina, President executive cooperative bank in 2015 results presentation, which posted profits of 40.7 million euros, this Tuesday, March 22.

Asked about the implementation of the resolution to measure Banif, with a strong presence in Madeira, had been the reason for this opening, the CEO of the Agricultural Credit admitted that “it was a window of opportunity.” As there was a group that joined to create a unit in the archipelago, the Caixa Central intervened and decided she even open.

But growth will also be close to the cities, where the group has a smaller presence.

“We have identified some urban areas that lack this close,” says Licinio Pina, referring to Lisbon and Porto. “We have opportunity to grow where we do not have [presence],” indicates, stressing the cuts made by competing banks.

No Fear Bank CTT

About competition Bank CTT, which, unlike the sector, opened the first branch last week, Licinius Pina argues that these were opened in urban areas of Lisbon and Porto, which is less present. “It’s a competitor bank,” devalued.

However, despite the expansion plan in Madeira and in urban areas, the group with strong exposure to the interior not to greatly increase the physical presence. “The bank of the future will go through many physical locations” but the type of agricultural credit customers need a physical counter

But there are no figures:. “We will do [the expansion plan] with caution, in mind without having any number. ” In 2015, the group had 675 bank branches, they worked 4,078 employees. Are least eight branches and 30 employees less compared to 2014. There are forecasts of staff cuts in the future:. “Balconies work already been optimized with regard to human resources”

Agricultural Credit favorable to the consolidation

again, Licinius Pina was favorable to consolidation in the sector. “The more we consolidate the banks, the better. More able are to finance the economy. And will be less competition,” said the CEO of the group.

“As for Hispanization spoken of, I have no fear . If you need capital for banking, for he that wherever it comes from, “indicates.

However, it is not by the hand of Agricultural Credit that there will be consolidation. After missing the purchase of BBVA, has not returned to be the new process. “Right now, we are not any proposed acquisition of any network or any other bank.”