The cgd had losses of 189,3 million euros in the first nine months of this year, compared to a profit of 3.4 million euros recorded in the same period of 2015, announced this Saturday the bank.
according To data published on the website of the Commission of the Securities Market (CMVM) on the Internet, the banking product amounted to 1.182,2 million in September 2016, a reduction of 432,8 million euros compared to the same period in 2015, "penalized by the reduction in 370 million euros in the results of financial operations", justified to the public bank, in a statement sent to the regulator.
The financial margin and strict grew, in the first nine months of the year, 48.1 million euros for 854,7 million euros, equivalent to an increase of 6% compared to the same period last year, due to "the reduction of the cost of funding (-244,1 million euros, -17,2%) higher than the decrease also felt in the interest of active operations (-195,9 million euros, -8,8%)".
Already net commissions up to September fell by 8.1% yoy to 344,7 million euros, and the results of financial operations was negative € 41 million between January and September, according to the bank, now headed by António Domingues.
The Box notes that during the months of July to September, the amounts recorded under ” impairment losses "are the result exclusively of the payroll of the values provided in the budget for 2016".
THE CGD points out that "since the beginning of office on 31 August 2016, the new administration, in the context of the recapitalisation plan and with knowledge of the regulators, has in the course of a year of revaluation the value of the assets and potential contingencies of the CGD and the needs of impairment losses corresponding to, for not being complete, is not reflected in the accounts now disclosed".
"This exercise should be completed before the closure of the accounts for the 31 December 2016 and will be reflected in the financial statements referring to the year 2016", refers to the institution, adding that "the plan of recapitalization provides for a capital increase of up to 2,700 million euros to cover the needs of impairments referred to".
As to the result of the exploration core (the sum of financial margin and strict with commissions deducted from the operating costs) of the CGD Group, this has increased by 25,8% compared to the same period of the previous year, to 256,5 million euros, "with the benefit of the behavior of the financial margin in a strict and of the operating costs".
Already the operating costs showed a reduction of 3.6% compared to the same period in 2015, "benefiting from the restraint felt in all its components, refers to the CGD, creasing that, "excluding the cost of non-recurring relating to the programme of pre-retirement or voluntary retirement in progress (Plan Horizon), the reduction would have been 5.6%".
"notwithstanding the reduction of the operating costs, the breaking of the banking product, as described above, resulted in the indicator 'cost-to-income' to be located in 77,8%," says a public bank.
The result of gross exploitation was 239,3 million euros in the first nine months of the year, a reduction of 397.8 million euros compared to the same period last year.
The cost of credit risk stood at 0,77%, compared to 0,66% in the same period of 2015.
The portfolio of securities investments, including assets with repurchase agreement and derivative trading, achieved the 20.377 million euros, which corresponded to an increase of 925 million euros (4,8%) over the same period, "provided by the liquidity situation."
The resources of customers in the CGD Portugal totaled at the end of September 71.645 million, 218 million euros than in the same period last year.
The total resources of individual customers CGD Portugal reached 58.429 million euros, an increase of 1.328 million euro (+2,3%) year-on-year. Already the credit to customers (gross) (including credits with repurchase agreement) was, in September last, of 69.938 million euros (down 2.1% compared to September 2015).
at The level of the CGD Group, the funds from the European Central Bank (ECB) increased by 762 million euros compared to September 2015, reaching in September in the 3.577 million euros, an increase together with a rise in the portfolio of eligible assets included in the pool of the Eurosystem, passing from 11.812 million in September of 2015 to no. 12,349 million euros at the end of September of the current year".
The equity of the Group amounted to 5.712 million euros, a reduction of 594 million euros (- 9.4%) compared to the one observed at the end of September 2015, "influenced by the evolution of fair value reserves and other reserves and results carried forward".
The ratios 'Common Equity Tier 1', it reached values of 10.2% and 9.3%, respectively.
The net result obtained by the international activity in the first nine months of 2016 had the largest contributors to the Branch of France (62.1 million euros, including the impact of that advantage non-recurring), BNU Macau (45.2 million euros), the BCG Angola (18.9 million euros), the BCG Spain (15.7 million euros) and the BCI Mozambique (9.8 million euros).
THE CGD has been shrouded in controversy, due to the deadlock generated in relation to the presentation of the declarations of assets and income to the Constitutional Court by the new management team of public bank, which, according to the news we have been public, he understands that he is not obliged to do so, with the opposition demanding clarification from the minister of Finance, Mário Centeno.
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