According to an internal message to which the agency Lusa had access, signed by Miguel Maya, the chairman of the Executive Committee of the institution, it is explained to employees that “taking into account the high inflation recorded in 2022 and the resulting impact on the income available to BCP employees, many of whom have allowed their salary development over the past decade to be determined by the adjustment and transformation measures essential to the success of the recovery that the bank has demonstrated,” the Executive Committee approved , despite the “low profitability (ROE of only 2.5%) that the bank still has, a series of measures that aim to help mitigate the impact of the current inflationary environment on respective revenues”.
For example, the “allocation of an extraordinary one-off payment of 500 euros to all employees without an assigned vehicle” was approved, and “this payment will be made at the same time as the December 2022 payroll processing”.
The management also approved the “possibility to receive the 2023 Christmas allowance in twelfths, from January 2023” and “determination for one year of the provision of home loans granted under the conditions of the collective labor agreement”.
According to the same notice, “the determination of the term will be based on the installment to be paid in June 2022, increasing the total term of the loan by one year”.
The bank also recalled that it is offering “an offer of free buses to/from Tagus Park”, stating that “from 2 November [hoje] the range of routes will be expanded with the availability of Route H — Cacém-Taguspark-Cacém”. According to BCP, “the availability of a platform that will allow Millennium employees to accelerate ‘carpooling’ is also being finalised.”
Miguel Maya acknowledged that “these measures, which are possible in the current context of the bank, do not make it possible to fully offset the effects of the exacerbated inflation, as it is now being felt”, but stressed that if there were no “cautious and sustainable “the conditions will not be created to achieve success “in the affirmation of the bank and in generating the profitability necessary to ensure the prosperity of the bank and its employees”.
Source: DN
