President of BCP, Nuno Amado came on Monday to promote the creation of a large “Portuguese private bank reference” and ensure that “has no problem with the origin or gender of its shareholders” . the banker confirmed that it will, in the coming days, ask to return to the state about a third of the 700 million public loan Coco’s still to pay.
This week BCP celebrates 30 years have been concluded at a press conference of presentation of the first quarter accounts, which took place at the branch of Avenida 5 October in Lisbon, where the bank started its activity in the commercial area. Between January and March 2016, the largest private bank reported falling profits of 46.7 million (minus 23.7%), due to the reduction of capital gains calculated from the sale of Portuguese public debt. During this period, the loan impairments fell 20.1% now totaling 160.7 million euros.
the capital ratio (Common equity Tier 1) rose from 11.5% to 12.8%, after the BCP has completed the merger operation in Angola (Millennium Bank) with Banco Privado Atlântico also its shareholder. Nuno Amado expects demand in the coming days authorization to anticipate the repayment of the loan Coco’s still owe the state. In the debt of 700 million euros, the banker proposes to shoot down between 200 and 250 million.
Asked to comment on the manifesto of 51 economists and former governors who ask the reconfiguration of the national bank, the banker stressed that “what is important is that the level of competition is appropriate in the Portuguese market,” the capital “is diverse.” And “various sources.” Just as it is important that the sector count on “a private bank Portuguese reference”. He concluded: “BCP is on the right track” and can “occupy this place.” “We had a very demanding framework in order to be a bank that is very focused on Portugal and the Portuguese world.”
For the president of the largest private bank “capital source is relevant,” but so is the ability to “attract capital,” as “it is important to know where your decision center”, where “consolidates” the accounts and the fact that “the management be based on the country where you work.”
Asked whether admitted entering the BCP a reference investor non-European and non Angolan Amado said: “the Board of Directors has no problems with the origin or gender of its shareholders, provided the investment is made by the book . ” But noted that “it is the shareholders who choose us and not we who choose the” as it is so “work societies”.
About privatization of the New Bank, the banker left the field open to be able to go to the game. “I do not know how it goes during the process, but it is essential that when entering a more decisive phase”, are in the race “the largest possible number of competitors and the most diverse” and is present at least one “Portuguese institution, which it is not easy, but it is important. “The BCP will be involved? “It is a must look at the whole process” and if allowed “then we will look at the file.” But all “depends on negotiations between the State and DGComp [Directorate General for Competition of the European Commission],” because “we have a ban on acquisition [for benefit even state aid] that can be lifted in exceptional circumstances.” And end “we will see what the best solution.”
throughout the meeting, the President of BCP was calling attention to the fact that more than 50% of BCP shareholders are Portuguese despite the Angolan oil company Sonangol is the largest investor with 20% of capital.Até recently entrance to-admitted in the institution businesswoman Isabel dos Santos after consummating divorce in BPI.
Nuno Amado also spoke of the impact on the bank that presides [whose statutes are armored to 20% of acçõesl] the entry into force of the decree-law of capital deshielded financial companies already designated BPI diploma. And he repeated what previously had said: “When investors make an investment, do it within certain corporate rules and should be them to change them,” which in this case did not happen. But “we will enforce the law.”
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