Domingues: “The conditions in which I was invited not maintained” – Diário de Notícias – Lisbon

António Domingues resigned from the presidency of the GBD given the wave of layoffs in the administration of the bank (nine people total)

“I was without a team”, explained António Domingues. “I felt we had no conditions to exercise the mandate.” “The conditions that I was invited not kept,” he added – but leaving however a regret: “I would really like to continue in the Box, I have really enjoyed working in the Box”.

the reasons for The dismissal were revealed by the itself, this morning, before the parliamentary commission on Budget and Finance.

These layoffs, he added, occurred because the shareholder, the State “changed his mind” on the conditions that you wish to exercise the mandate. And one of the conditions was, at his request, to the directors of the bank shall be exempt from declare heritage, in the Constitutional Court (TC). This far-would, according to proposed by the Government, and as was eventually to happen – by the administrators of the CGD of the Statute of the Public Manager.

Apparently – though without the spell – Domingues will be referring to the fact that the Parliament has approved in the OE, a norm obliging the managers of the GBD present in the TC statements of income and other assets.

The now ex-president of the CGD (since 31 December) told that said to the Government, when he was invited, that he refused to “rules specific to the Box that did not exist for the other private banks”. “That to me was a condition. If you tell me that not would to my life.”

According to reported, the deletion of the managers of CGD that obligation was also the one that allowed him to invite the people “with a lot of experience” that he wanted for his team. “Whether we like it or not, the Statute of the Public Manager is a barrier,” he said. Would not have accepted if they had “as a result,” have “their assets published in the tabloids”.

To Domingues, the same problem was to declare his assets to the TC and not the income – these always had published since that is the administrator bank.

The manager revealed yet another condition that put to accept to preside at the CGD: the recapitalisation of the bank would never make in the form that the EU deemed as State aid. “State aid would imply that the Box to enter the resolution scenario. What happen to the Box, the rest of the sector, and to divide?”

Obtained in the EU to guarantee that the recapitalization could be done outside of the form of State aid, and the Government which would be outside of the Statute of the Public Manager, accepted the invitation (16 April) – and only that day he met the prime minister (all out before the treaty with the minister of Finance, Mário Centeno, and with the secretary of State of the Treasury, Mourinho Félix).

According to revealed, the plan of restructuring of Caixa Geral de Depósitos (CGD) implies a decrease in 2200 the number of employees in active until 2020 – a program “relatively smooth”. The ex-president of CGD has ensured that there will be terminations (“very difficult”). Of the 2200 people are involved – and “there is already a list with names and surnames” – 600 will be removed from the active because they are retired and the remaining for pre-retirement. As to the closure of offices, will be “between 150 to 200″ but “probably will be more.”

Domingues said that the restructuring plan that he and his team drew points out, “in a conservative scenario”, to the positive results of 200 million euros in 2017 and 700 million in 2020. The “conservative scenario” is of negative real interest rates until 2019 and zero rates in 2020.

The manager refused to disclose the impairment of the bank concerning the 2016 but said that “the need for a capital increase of 2.7 billion is justified”. With this increase, the ratio of credit at risk decreases from 12.2% to 9%.

he Said, on the other hand, that is not yet in progress no audit to the bank. On 16 November, the second had received a letter from the minister of Finance, asking him to make progress in the process, “in conjunction with the Bank of Portugal”. He then sent a letter to the governor – “to date there has been no response.”

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