The bank announces changes in management. Carlos Tavares left and the current directors of Banco Montepio were co-opted to the Board of Directors of Banco Empresas Montepio.
Banco Empresas Montepio (BEM) posted profits of €1.7 million in the first half of the year, up 37% compared to the same period last year. The bank will be reintegrated into the leadership of the parent company, after the directors, Carlos Tavares, Nuno Mota Pinto, Pedro Ventaneira and Leandro Silva resigned from their positions at the end of August.
The banking institution said in a statement that in the first half, “there was a significant net increase in impairments and provisions, largely associated to assets (credit and real estate) pre-existing the creation of BEM (about 1.4 million), which ultimately reduced net income to about €433,000.”
Even so, “the estimated net result for BEM’s activity (starting mid-2019) amounted to €1.7 million, compared to €1.3 million in the same half of 2021 (+37%),” says the bank.
Commissions “amounted to €1,942 million in the first half of 2022, showing an increase of €835 million (+75%) compared with the same period of 2021, justified by gains in commissions originated by the investment banking area.”
The bank also highlights changes in the institution’s governance, with “the directors Carlos Tavares, Nuno Mota Pinto, Pedro Ventaneira and Leandro Silva, who were joint directors of Banco Montepio and ceased functions on July 25, presenting their resignation from their respective positions at the Board of Directors meeting on August 31, 2022.”
At the meeting, the current directors of Banco Montepio, Pedro Leitão, Ângela Barros and Isabel Silva were “co-opted onto the board of directors of Banco Empresas Montepio, and will take up their roles as soon as the competent authorisations have been obtained from the supervisory authority.”