The semester was a fall in revenues and an increase in impairments. BCP and Santander Totta constituted 210 million in Covid impairments. DBRS says that profitability will come from investment banking.
The president of BCP expressed his displeasure in relation to the increase in tax costs, referring to the solidarity surcharge, and the brake that legislative initiatives impose on commissions, which is a reduction in future revenues, in a context of low profitability.
“This semester we sold a significant number of properties, but not wholesale, we sold 583 properties for 70 million euros. This semester we have another 263 properties with adjudicated sales of 34 million euros ”, detailed the president of Caixa. The ECB has not let banks hold properties on balance sheet for more than two years.
Paulo Macedo announced, at the press conference to present the results, that he will launch a 500 million euro credit line for Small and Medium Enterprises (SMEs) and for micro companies, with much lower spreads. This line is not guaranteed by the State.
Paulo Macedo says he closes sale of the bank in Cape Verde soon and postpones 'sine die' sale in Brazil
This sale of the shareholding in Banco Comercial do Atlântico was provided for in CGD's strategic plan for 2017-2020 negotiated with DGComp in Brussels. The bank of Brazil, on the other hand, will not be sold within the term established in the agreement with the European Commission.
Novo Banco with losses of 555,3 million. Until June, it estimates to ask 176 million to the Resolution Fund
The legacy bank, which is the bad bank, had losses of 493,7 million euros and, in view of these, Novo Banco estimates to request, until June, a capital injection of 176 million euros under the capital mechanism contingent (CCA), to the Resolution Fund.
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