In November, Banif had positive results in the first nine months. Days after the Bank of Portugal forced the institution to register a devaluation that did not explain the auditor PwC.
The revelation was made in the Parliamentary Commission of Inquiry into Banif case by the chairman of PriceWaterhouseCoopers (PwC) , the auditing of Banif from 2014
the story is counted as follows:. in November, Banif presented for the first time since it was operated upon positive results. The profit of 6 million euros to September allowed the bank to take a deep breath, but for a few days. The Bank of Portugal, a decision hotly contested by the administration of George Thomas, forced the institution to record impairment (difference between the amount by which the assets were evaluated at the time they were relevant to an operation and the estimated value have another moment, later) of EUR 177 million.
These impairments, which would eventually create additional difficulties to Banif, have never been explained to PwC, which auditava the bank accounts. Of these 177 million, said the president of the company, “a reasonable part comes by way of an assessment made in October, an active Banif it was Açoreana.”
Asked if the governor explained the reasons for devaluation, José Manuel Bernardo said he never had “opportunity to discuss in detail with the bop the origin of these impairments because in the meantime the bank has been resolved.”
Bernardo stressed that the Bank of Portugal had provided long, “a team dedicated to Banif, which followed what was happening in the bank.” This team, explained, “was a resident and there was a close interaction of the Bank of Portugal with Banif.”
“In fact,” he said “had knowledge of what was happening in the bank by the BoP.”
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