Photo Vitor Mota
Bank led by Jorge Tomé reduced losses
Banif reduces injury to EUR 295 million
Bank recorded 470.3 million of dollars of damage in 2013.
Banif recorded a net loss of 295.4 million euros in the year past, an improvement from a loss of 470.3 million euros established in 2013
“This figure was heavily penalized by the net income recorded in the fourth quarter of 2014, amounting to -140.5 million euros which includes factors related to non-current activity amounted to -163.4 million euros, “reads a statement issued by the bank led by George Thomas.
Within these non-recurring income, we highlight if losses on real estate assets, which amounted to -135.5 million. Here are them the impairment on exposure to the Espírito Santo Group (GES), 80.4 million euros, the devaluation in FINPRO participation (-30.5 million euros) and restructuring costs (-28.8 million).
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