President also "regrets" the delay in delivering the final version of the audit to Novo Banco

Marcelo Rebelo de Sousa considers that “it was the best for everyone” that the final version had been completed by this Friday: “Nobody is very interested in speculation without knowledge of the facts”.

The President of the Republic accompanies the Government's lamentation for the fact that Deloitte's audit of Novo Banco was not completed by the end of this month, after the Ministry of Finance informed that the consultancy would present this Friday only a version preliminary report

“Whatever the content of the audit - more positive, less positive, only very positive or positive - I regret, as the Government did, that it was not possible, after the postponement, to have it ready, as a final matter during the month of July. It was the best for everyone. Nobody is very interested in speculation without knowledge of the facts, ”he explained to journalists.

On the sidelines of a visit to Tavira, the President said that “it is important to look at what is happening, especially because it is an institution in which the guarantee of the State is involved - and the State is us, the Portuguese”. “It is not just when the government comes in with money. It is enough that he guarantees entry with money for this guarantee to mean a guarantee on the part of the Portuguese ”, he stressed.

Due to the delay in completing the audit, the Government and the Resolution Fund ended up asking Novo Banco not to sell more credit portfolios until the final report was delivered. Safeguarding that he would not comment on this decision, Marcelo Rebelo de Sousa says that "the important thing is to know what happened".

The head of state also stressed that Novo Banco is a banking institution that he does not want “problems to happen”. "The last thing we want to do is return to banking crises like the ones that occurred in the past."

“The Ministry of Finance regrets that, on that date, the independent auditor does not yet present the final and definitive version of the audit report and waits for that report to be completed and made known to the Government and the parties represented in the Assembly of the Republic as soon as possible. possible term, ”said João Leão's office yesterday.

News updated at 19:16

Read more
Recommended

Fitch: Montepio with the worst capital ratio and BCP with the largest dimension of problematic assets

Fitch carried out a comparative study of six banks - CGD, BCP, Novo Banco, Santander Totta, BPI and Banco Montepio. It compared the capital ratio of each with the regulatory requirements and compared the weight of the net problematic assets in the capital of better quality. Montepio and Novo Banco do worse in photography, despite the fact that BCP has a higher volume of problematic assets. CGD is well positioned despite the size of the balance sheet.

PremiumDBRS: investment banking will save bank revenues

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.

Novo Banco lost 138 workers and 15 branches in one year

As of June 30, 2020, the Novo Banco group had 4.855 employees, compared with 4.993 to June 30, 2019.
Comments