Angola worth 136 million of the 236 million recorded by Fernando Ulrich. . Split the business in that country could have an impact on the accounts of the bank, which returned to profit after three years
The BPI presented the best net profit since 2012: earned EUR 236 million in 2015, with strong contribution from international activity. The Banco de Fomento de Angola, owned 50.1% by the BPI, contributed almost 136 million. BCI, a partnership between BPI (which owns 30% of the institution), the Mozambican Insitec Group and Caixa Geral de Depósitos, who heads the bank, with 51% of capital, accounted for 9.4 million.
The Angolan economy, which suffered last year, the devaluation of the kwanza and the oil crisis, there seems however to have left to contribute decisively to the results of the Portuguese bank: Luanda came 135, 7% million euros, equivalent to 57% of net income. BCI has a much more modest share of only 4%
Proposal Unitel for BFA rejected:. Was not “good solution”
President BPI’s executive considered in the results presentation press conference, that the proposal of Isabel dos Santos (by Unitel, which owns) to buy 10% of BFA Angola by 140 million capital euros was “not a good solution “and reaffirmed that the breakup of the African assets is the” solution which fulfills the requirements imposed by the supervisor. “
The president of BPI refused to say what will be the solution for operation in Angola, and stated that the bank continues to have a general meeting scheduled for February 5 in which shareholders will be able to state the project division of operations in Africa. The operation is a consequence of the ECB’s decision, which ordered the reduction of the exposure of European banks to countries Frankfurt considers not having rules equivalent to European, including Angola.
Last year the administration of Fernando Ulrich presented a Project spin-off of operations in Africa through a new company which join holdings in Angola and Mozambique.
In losses to profits
The BPI had a consolidated net income of 236.4 million euros in 2015, compared with losses of 163.6 million euros in 2014.
Net interest income rose significantly (29% to 663.4 million euros) and operating income (37.8% to 1.1819 billion euros). Already operating income grew 175% to 511.3 million euros. Operating costs fell 0.1% light to 670.6 million euros. The transformation ratio of deposits into loans stood at 85% in December.
Since the ratio ‘common equity tier 1′ (CET1) amounted to 11.1% if one considers the ‘phasing in’ (transition) to the new European rules and to 10% if taken into account to its full implementation.
BPI did not recommend purchase obligations of the New Bank to clients
Fernando Ulrich assured that BPI did not recommend to customers who purchase obligations of Novo Banco, adding that the institution did not lose money with the decision of the Bank of Portugal because he had such securities.
“The BPI did not sell bonds of these customers. But there may have been customers who have purchase orders on the secondary market,” said the president of the bank, who declined to comment on the decision of the Bank of Portugal, adding only that the BPI has lost money with relay senior obligations of the New Bank for the ‘bad bank’ BES.
New Bank is still possibility
The BPI will re-examine the conditions of sale of the New Bank as they become known. The bank’s president said “” The new process should start with brevity and at that time we will examine the conditions “
On the first attempt. – Failed – the sale of the bank is left of BES collapse, BPI showed interest but eventually see its proposal excluded by the Bank of Portugal.
Fernando Ulrich added that the institution he leads was not invited by the regulator for the Banif selling process. Refusing to elaborate on the subject Ulrich added only that “even if he had been invited, probably would not have presented a proposal.”
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