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“The report describes a series of weaknesses and serious deficiencies in the internal control in the period of activity until 2014 of Banco Espírito Santo in the process of granting and monitoring of credit, as well as in relation to investment in other financial and real estate assets” , according to a statement. published this morning by the Ministry of Finance.
Due to the long period of time, and because a criminal process is being developed, and “due to the need to safeguard the economic interests of the State, the report will be sent by the Government to the Attorney General’s Office, considering the constitutional and legal powers of the Public Ministry ”, indicated the Government.
The report, prepared by the auditing firm Deloitte and delivered to the Government, analyzed the management acts of Banco Espírito Santo and Novo Banco, from January 1, 2000 to December 31, 2018, and covered “283 operations that are part of the of the audit, thus covering both the period of activity of Banco Espírito Santo and the period of activity of Novo Banco “.
This set of operations generated losses of 4,042 million euros for Novo Banco between August 4, 2014 (one day after the resolution of BES) and December 31, 2018. The largest participation, 2,320 million euros, refers to to operations. credit.
The special audit report argues that the losses incurred by Novo Banco were mainly due to asset exposures that originated during the activity of Banco Espírito Santo and that were transferred to Novo Banco under the scope of the resolution.
The Ministry of Finance also indicated that it sent the report to the Assembly of the Republic, as well as to the European Central Bank, Bank of Portugal, Resolution Fund, Superintendency of Insurance and Pension Funds and the Securities Market Commission. .
“The report of the special audit is extensive and will require a careful, objective and responsible technical analysis on the part of all those to whom it was sent,” said the Portuguese Government, adding that “it is essential that all actions are carried out by all the interested”. necessary to ensure the prompt and complete correction of the problems identified in the special audit report. ”
Still in the same note, the Ministry of Finance reiterated the “importance of full compliance with the commitments assumed contractually, that is, with the Resolution Fund.”
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