[ad_1]
The BCP informed the finance minister, João Leão, that it is available for a merger with Banco Montepio, in case an intervention is necessary in the institution chaired by Pedro Leitão, the weekly reported this Saturday. Quick.
The office of the Minister of Finance, João Leitão, confirmed to the weekly the existence of meetings with the management of the BCP, rejecting that they be held to address the issue of a merger due to possible problems with the bank owned by the Associação Mutualista Montepio Geral and that it will face a Restructuring process.
The Finance Ministry confirmed a meeting with the BCP on Thursday, adding that the issue discussed was the extension of the credit default, approved this week by the Council of Ministers. The bank did not comment.
Banco Montepio announced in June that it will begin a restructuring process and in recent days it has been reported that it is preparing for a reduction of 800 workers. According to the online newspaper Echo, this plan to reduce personnel (around 20% of workers) will cost approximately 80 million euros.
On Friday, the Echo He also reported that the exit plan was finally announced by email to the workers. It is estimated “a maximum indicative range of reduction of people between 600 to 900, for which the competent authorities were asked to increase the quota of unemployment benefit,” says the news.
THE Quick This Saturday it stands out that BCP management had already shown openness to a possible consolidation operation in the presentation of accounts, in July.
On that occasion, the president of the BCP, Miguel Maya, stated, regarding a hypothetical purchase of Novo Banco, that there were no plans to grow through acquisitions, but that it was “the duty of diligent management” to look at the operations that arose in the market .
BCP is held by the Chinese group Fosun at 27.25%. The Angolan oil company Sonangol has 19.49% of the capital, followed by the North American fund Black Rock, with 3.39%, and EDP, with 2.06%.
Regarding the restructuring of Banco Montepio, the Quick informs that the National Union of Banking Personnel and Technicians (SNQTB), the Independent Banking Union (SIB) and the Northern Bankers Union (SBN) met this Wednesday with Pedro Leitão, who confirmed the existence of a plan to reduce personnel , without giving details about the size.
The restructuring “includes an expanded plan for early retirement and termination of employment contracts by mutual agreement. [RMA]Until 2021, revealed the unions, who consider the situation “very worrying.”
THE Quick It refers that the restructuring plan will have been approved only by the Montepio executive committee and not by the administration, chaired by Carlos Tavares, who has already been admitted to the Bank of Portugal.
As for whether it was informed of these plans and of the future capital needs of Banco Montepio, the Associação Montepio responded to the weekly that “accompanies the life” of the institution, but that there are “issues that are related to the management of the bank and its regulator”.
“The adjustment processes, their implementation dynamics and the associated impacts are, however, defined and guided by respect for the values that inspire the Associação Mutualista and the entire Montepio Group, guaranteeing, as such, particular attention to the people and the necessary conditions of acceptance and satisfaction ”, he added.
And on eventual capital needs, the association chaired by Virgílio Lima told the Quick that “accompanies the study of needs and there are solutions that involve optimizing the existing capital in the regulatory context.”
