Saturday, January 30, 2016

Banif: Banco Popular offered zero euros’ and reduced 900 workers – Minister – Porto Canal

Lisbon 29 Jan (Lusa) – The Minister of Finance, Mario Centeno, said today in parliament the offers made by Banco Popular and Santander Totta to purchase the State’s position at Banif even during voluntary sale, with first to give zero euros.

“The appreciation of these proposals is complex,” said the official, stressing the difference between the voluntary sale of the state stake in Banif before the resolution and the sale process under the assistance the authorities in the bank.

“The proposal of Banco Santander, as presented by Banif, was to exclude 3,022 million euros of assets and offer a price of 150 million euros. It proposed to return ‘CoCos’ [the last slice of hybrid capital instruments underwritten by the state amounting to EUR 125 million] and pointed to a reduction of 800 workers, “advanced Centeno.

” The assets that the People is proposed not purchase amounted to 7,725 million euros. The Popular proposed to buy only a very small part of Banif and paid zero and reduced 900 workers, “said the minister, at the insistence of MEPs who heard the Budget and Finance Committee.

Mario Centeno he stressed that “all these numbers are valid outside the resolution setting.”

He added that the figures given are only part of the proposals that the two banks that are part of Spanish groups advanced to acquire the 60% the state held in the Banif until it is solved.

“The proposals will be surely of the parliamentary committee knowledge,” said the holder of the Finance folder.

DN / SMS / / JPS

Lusa / end

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