The new Database simplifies internal organization before the sale – Jornal de Negócios – Portugal

when there are few weeks to know who will purchase the New Bank, the institution led by António Ramalho has just completed “the first phase of the transformation project, simplifying the structure of the organization at the level of the managers of the first line,” says the bank in a note sent to the Business.

This simplification, which comes into force on the 1st of January, resulted in the reduction of the “ten core structures, and their respective directors, coordinators, from the current 39 to 29, which represents a decrease of 25.6% in the structures of the top of the bank,” says the institution. The process encompasses several areas of the bank, in particular, in the areas of marketing, commercial and credit recovery”.

The New Bank did not specify whether this reorganization will contribute to the effort of cost reduction in march. But, in the long term, this is the final goal of simplification now decided, a time that some of the directors coordinators to cease to exercise this function. In the first nine months of the year, operating expenses totalled $ 449,9 million euros, showing a reduction of 24.3% compared to the same period of the previous year”, underlines the institution.

When this simplification to come into force on 1 January, the Bank of Portugal should already have announced who is going to buy the New Bank, the decision that the institution led by Carlos Costa wants to take until the end of the year.

at This time, the team responsible for the divestiture process, led by Sérgio Monteiro, holds discussions with the five candidates for the purchase of the New Bank: BPI, BCP, Apollo/Centerbridge, Lone Star and China Minsheng.

The first four stakeholders positioned to direct selling, while the chinese group applied the sale of business in the market, which provides for the dispersion of most of the capital to one or more investors. As the Business has advanced to the 7 November, the final proposals submitted by the five candidates admitted, among other scenarios, the fusion of different gifts in one.