Os French people from BPCE buy 100% of Novo Banco for 6,400 million euros. The State, which already only had 25%, receives 2,000 million euros from the sale and distribution of dividends.
The President of BPI presented results and left a comment to the Government about another bank: he says he does not understand why the Executive is so happy to get 2,000 million euros from the sale of Novo Banco, if taxpayers and banks injected more than 8,000 million euros there.
The green light from the European Central Bank is still missing, but the agreements have already been signed both by the State and by the North American Lone Star Fund.
Os French people from BPCE buy 100% of Novo Banco for 6,400 million euros. The State, which already only had 25%, receives 2,000 million euros from the sale and distribution of dividends.
Taxpayers and banks, who contribute to the Resolution Fund, were forced to inject 8.000 million in Novo Banco and now that the process ends the CEO of BPI sees no reason for a party.
“I’m not going to put under the carpet how much this all cost us to taxpayers and banks. That’s what I think doesn’t make sense. For me to lose eight and recover two and say that I’m happy, I don’t think it’s exactly a thing….I can’t stay. If someone can do it, congratulations… I can’t do it, especially when we pay that amount. It costs a little.”
During the presentation of BPI’s results, João Pedro Oliveira e Costa did not hold back in criticizing the sale of BES’s successor.
From January to September, the BPI made a profit of 389 million euros, 12% less compared to the same period last year.
The fall in the financial margin, The difference between the interest charged on credits and the interest paid on deposits is the reason for the drop in profits due to falling interest rates.
