The diploma the government is preparing to support families with home loans may come with risks, BCP’s executive chairman warned. At stake is the obligation of banks to renegotiate the contracts of customers with an effort rate of more than 40%, in order to cope with the rise in interest rates that for many Portuguese have a strong impact on the value of monthly loans.
Presenting the accounts for the first nine months of the year, a period in which profits rose by 63% to 97 million euros, Miguel Maya refused to make specific comments about the diploma until he knew the document in its entirety. But it left some warnings. The banker stressed that “it is a big risk for customers to think that this is free”. [de graça]and recalled that families will be “marked” as at risk and could be harmed in financing in the future. Therefore, he fears that the government is creating the “wrong incentives that lead to wrong behavior”, as the “restructurings affect the way we look at these customers.” And he reinforced: “This stigma created with the restructuring will not be good for the customers, nor for the bank”. [a renegociação] if it’s really necessary.”
Miguel Maya did not specify how many BCP customers will be covered. But he assured that the bank’s main concern is to find solutions for families facing financial difficulties. And for that, he guarantees that “government help” is not needed, recalling that current regimes already safeguard the possibility of renegotiation.
Leaving Fosun? “Fear is a scene that doesn’t watch us”
Regarding the stability of the shareholder structure and the risk of leaving the Chinese group Fosun, the bank’s largest shareholder, Miguel Maya used an expression that went viral a few years ago: “Fear is a scene that we don’t watch”. “We have to manage it rigorously, we don’t have to be afraid of anything,” he added.
In recent weeks, it has been reported that Fosun will sell some non-strategic assets next year. But according to Miguel Maya, his nearly 30% stake in the bank will not be on the list. “What I have felt from shareholders is support for the bank throughout the process,” he assured, taking the opportunity to recall that Sonangol’s departure from BCP’s capital has also been reported for years, with the oil company continues to hold about 19%.
Miguel Maya also excluded the scenario of the sale of the operation in Poland, which continues to weigh on the bank’s accounts: “That is not the way, who buys with this uncertainty?” he asked, referring to the conversion of provided mortgages in Swiss francs and the devaluation of the zloty.
Source: DN
