Montepio exacerbates losses with less 222 workers and 90 counters – TVI24

The Caixa Económica Montepio Geral made losses in 8 million euros to September, compared with the first nine months of last year. The result was negative in 67.5 million euros (-59,5 million in 2015).

Already if we focus only in the third quarter of 2016, that is, between July and September, the net result was slightly positive, standing in the order of 144 thousand euros.

In a statement sent to comissão do mercado de Valores Mobiliários (CMVM), the entity led by José Félix Morgado highlights that this “reverses the recent trend of quarterly results negative”.

As for the loss in the first nine months of the year, the Montepio stressed that the same is due to the “specific impacts that have occurred in the first half, related to the costs with the resizing process of the operating structure [which has cost up to now 32 million euros], with contributions on the banking sector to the Single Fund Resolution and to the Resolution Fund National and with losses in financial investments“.

And highlights in the same press release: “Prior to these impacts, the net result for the first nine months of 2016 stood at 22.6 million euros”.

Until September came out to 222 employees of Montepio and closed 90 offices in Portugal being open to the public 332. Thus, at the end of the third quarter, the group had 4.182 employees.

The international network with more than 30 branches, which have remained without changes, between the Finibanco Angola and bank of Mozambique.

The financial margin grew by 10.3% compared with the same period and the customer deposits also increased by at 39.6 million, up 0.3%.

The Montepio closed the session this Thursday, in the bag, the back 0,23% to 0,433 euros. The reaction to these results it will produce in session tomorrow, Friday, the last of the week.