Express Tribune | Benfica gave Novo Banco authorization to talk about the loans. Ramalho says that the club has “an exemplary behavior”

Benfica

The president of Novo Banco defends that it is “unfair” to confuse clients who do everything possible to keep accounts with businessmen

The president of Novo Banco asked Benfica to lift the banking secrecy on the commercial relations that unite the two institutions, to show that, despite the use of the 28 million euro credit line earlier this year, as reported Expresso, the club has reduced its debt with the bank.

“I made an exceptional request to the president of the Benfica SAD to free me from banking secrecy,” declared António Ramalho in the Budget and Finance committee on Tuesday, September 15, after being questioned by Deputy Cecília Meireles about financing. Authorization received.

António Ramalho considered that it is “unacceptable” to combine this financing with Benfica, from an insured account opened in 2017, with the debts of companies of the president of Benfica, Luís Filipe Vieira, an economic group that caused losses of 225 million to the bank. “It is unfair” to make this mess, with a club that has fulfilled its obligations.

On the financing line of 30 million, of which it used 28 million this year, already when SAD was affected by the covid-19 pandemic, it showed that Benfica has been reducing its debt. “Benfica owed 202 million and Benfica had this exemplary behavior,” he said, showing a graph that shows the decrease in this debt, now at 28 million euros.

The financing contract that was open since 2017 and that was used in 2020 is the result of the restructuring and settlement of contracts that come from 2008.

This fact is mentioned in the Expresso news, which states that the pandemic forced Benfica to reverse its strategy of moving away from banks, and reusing the money lent by them, when it has been trying to finance itself through bonds bought by its supporters. – in addition, the banks themselves are also obliged to move away from football clubs.

Ramalho stressed that Benfica also has loans obtained from the “public bank” and the “social bank.” Benfica has credit from CGD and Montepio, but in much smaller amounts (1.2 and 5.9 million, respectively), as Expresso mentions.