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Montepio. Vitor Melisias leaves the stage



Montepio.  Vitor Melisias leaves the stage

Almost 40 years later, Vitor Melicias will not be in a senior position at Associação Mutualista Montepio Geral (AMMG), which will be voted on on December 17th. He joined Mutualista in 1983, during the stabilization phase after the institution was on the verge of entering a wave of bank nationalization in the post-revolutionary period and continues to this day. But for the first time, he is missing from the lists for either the administration or the supervisory board – names already being evaluated by the Insurance and Pension Fund (ASF) Office of the Supervisory Board.

“I cannot stay in Montepio forever. The fact that I did not apply is simply a desire for renewal, for the spirit of the organization to exist. I can’t stay in the office forever. It doesn’t make any sense. The refusal to submit an application is a positive act of cooperation with the institution, supporting the renewal, eternal life of the institution, ”he says Nasser do SOL.

The Franciscan priest also recalls that he was one of the main factors behind the term limits, and as far as the remuneration he still receives, he says that he only receives attendance vouchers – a few hundred euros – as other functions he currently favors Mutualista does not receive any remuneration. “I haven’t received a reward from Montepio for 18 years. I have a pension and everything I get goes to the Franciscans. “

In interview i, he already mentioned that he received three types of pensions: one from social security, another from Montepio, which he deducted as a member, and another called the statutory Montepio pension, which is for those who have been there for more than five years. “All together should give a maximum of 3,900,400 euros. And from this account automatically, without passing through my hand, 3,000 euros are transferred to the monks. There are 900 people left to manage their lives, to help the poor, ”he said to i.

The guarantee is again given to Sunrise, citing that Franciscans live “with the greatest simplicity, no frills.”

Nevertheless, Melisias does not exclude the possibility of promotion with his name to the General Assembly or the Assembly of Representatives. “There is no list for these positions yet. If they convince me that I have to leave because it will be favorable, I probably won’t be able to say no. ” And he leaves a guarantee: “I really want not to go, but the feeling of solidarity with the institution can” force “me to do it.”

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And despite not being listed on any of the lists, he admits that his name inspires confidence. And he says that his absence does not mean that he no longer supports the project. “We need to be given peace of mind. It is an institution with 200 years of history, which has grown, strong, organized, has 600 and a thousand such members. ” However, he admits that in recent years, especially in the wake of the pandemic, the numbers have fluctuated. “Some come in and others leave. This is important and not a cause for concern. “


Along with Virgiliu Lima, who represents the succession list and has names like Idalia Serrao, João Carvalho das Neves, Rui Heitor and Fernando Amaro, Alipio Dia and Luis Patrao, there are three more competing lists.

One is the so-called “Staff List” headed by Pedro Alves, who raised the candidacy after João Vicente Ribeiro asked to leave “for personal reasons” drawn up by Maria Eduarda Osorio, Nuno Parames and Pedro Libano Monteiro.

Eugenio Rosa, as well as Ana Drago, Antonio Coutu Lopez, Catarina Homem, Luis Costa and Thiago Mota Saraiva are running for the leader of the Mutualista, while another list supported by Ribeiro Mendes, who ran in the last election against Thomas Correia, is Pedro Corte Real (President), Miguel Coelho, Mario Valadas, Nazare Ribeiro, Nuno Rolo, Marcelo Gama and Ana Nogueira.

Nasser do SOL knows that, using the electoral practice of Thomas Correia, Virgilio Lima has traveled all over the country from end to end, visiting branches of Banco Montepio. This “charming” operation began in July and did not end until August. Branches in Braga, Porto and Aveiro were recently visited. Our newspaper discovered that these visits were made under the pretext that they were the president of Associação Mutualista, and that they had the goal of interviewing employees to find out how the relationship with customers and partners is going.

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Despite this round, the Executive Committee sent a note to the workers on the risks of conflicts of interest in connection with the elections: “The electoral process for the Montepio Geral Associação Mutualista is very close, this is an important event in the life of this institution. … Caixa Económica Montepio Geral (“Banco Montepio”) is neutral and absolutely independent in this process, convinced that this is the best way to do our part to protect the interests of MGAM and its members, ”says the document.

And he reminds employees of the rules: “In carrying out their professional activities, they must refrain from taking positions on any candidates that are under scrutiny, regardless of the means used in contact with clients and employees of MGAM; No electoral initiative may be carried out within the MGAM electoral process at the Banco Montepio premises; They must immediately inform the board of directors when they are on the list of candidates; any public interference or communication in relation to the electoral process that is permissible under applicable law can only be carried out in a personal capacity, which must be duly noted and cannot represent or bind Banco Montepio, “adding that” a breach of the above obligations may constitute a disciplinary offense, and the following conduct is therefore prohibited: the use of Banco Montepio funds and facilities, namely email, telephone, Internet access and similar technologies, to exchange or distribute messages in support of a candidate or list; using the funds that Banco Montepio has provided to carry out its functions, to attend campaign promotions, to collect votes or to promote a list or candidate (eg cars and mobile phones). “

The Banco Montepio Executive Committee has also begun a program to decentralize its meetings, starting with Guimaraes, which it attended last Wednesday. As a reminder, the term of office of the current management of Banco Montepio expires on December 31, which means that the selection of a new management team for the bank will be one of the first tasks of the new administration of Associação Mutualista.

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2020 accounts approved

Also this Thursday, the consolidated financial results of the Montepio Geral Group for 2020 were approved by 97.28% of votes at the next general meeting. “In a year marked by the strong negative impact that the pandemic has had on the entire national, European and global financial sector, the financial sector of the Montepio Group was no exception, registering a series of extraordinary events that negatively impacted Banco Montepio Geral’s bottom line (- 86 million). Without this completely exceptional reality, the consolidated financial statements would have amounted to 65 million, ”he said in a statement.

According to Virgiliu Lima, the accounts were approved “after the partners were fully informed of the very positive results already registered in 2021, with an increase in the number of employees, financial margins, results and performance indicators,” adding that “the non-financial sector is experiencing a positive upward cycle and the financial industry provides indicators that confirm a clear recovery. ” And he left a guarantee: “No one is proud of the negative results, but the road of recovery that the Montepio Group is already on to this date, and the performance of all our employees in 2020 and 2021 as part of the restructuring fill us. proudly. at the group level, in terms of simplifying the number of special purpose vehicles, adjusting the number of branches and work teams, always on a voluntary basis. At the same time, we look to the present and the future with determination, calmness and confidence. “

Figures that don’t convince opponents. The executive group states that the accounts “reveal a failure to value the Institution”, believing that “the course of ongoing asset devaluations can be reversed.” The list, led by Eugenio Rosa, also criticizes the losses, believing that “it is time to try to apply the good reports and best practices that members deserve and have been waiting for.”

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Are we close to the end of physical money? Coins and banknotes are practically disappearing in these countries — Executive Digest



Are we close to the end of physical money?  Coins and banknotes are practically disappearing in these countries — Executive Digest

At present, the number of payment alternatives in addition to physical money such as credit cards, payment with applications or mobile phones is increasing, and well-known coins and banknotes are gaining ground.

However, ElEconomist explains, there is evidence that, despite the apparent growth of other forms of payment, physical money continues to hold. According to the European Central Bank (ECB), almost half of all payments, 48%, are made using banknotes. In the US, the US Federal Reserve has noted that money in circulation has even reached an all-time high.

There are countries that are discussing this issue, and some countries are testing formulas for moving to a fully digital model. A Spanish website has compiled a list of cases where money could be on the brink of extinction.


Despite having the oldest central bank in the world, it has been leading the fight against physical money since the beginning of the last decade. Between 2011 and 2020, Swedish citizens reduced their use of cash from 39% to 9%. With companies, banks and other institutions refusing to accept payments in coins or banknotes, Sweden would be quite willing to move away from cash if rural areas didn’t resist its decline.

At the same time, the Swedish government is at the same time trying to slow down the transition by asking citizens to keep money at home.


Norges Bank, the country’s central bank, has released figures that Norwegians only use banknotes or coins for 3 to 4% of their transactions, and the lack of physical liquidity in the country is a concern, so although they are about to achieve full digitization, they are trying to stop this is.

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The Norwegian Consumer Protection Agency has already received complaints about the inability to pay for bus tickets or cafes in cash in the center of the capital, and the country’s Pensioners’ Association has also warned of the concerns this raises among a less digitized population.


It is one of the countries not only in Europe but also in the world with the most development in this aspect, with a share of cash payments below 24% compared to 52% in 2005, 40% in 2011 and 30% in 2015. . . .

Data from the Dutch Payments Association shows that card usage for payments now exceeds 75%, with mobile payments up 30% last year.

In this case, banks are the biggest drivers of total digitalization to cut costs at branches and ATMs. In the Netherlands, 89% of customers are already digital, compared to the European average of 60%.


The country is becoming so digitized in this regard that the People’s Bank of China is imposing fines on public and private institutions that refuse to accept cash payments in order to “protect citizens’ rights to use cash.”

The latest survey by the region’s central bank shows that 66% of payments in the region are made using a mobile phone, compared to 23% in cash. At the same time, the percentage of card payments is even less: only 7% of transactions.

South Korea:

Since 2016, the country has been trying to digitize payments, which is why cash in circulation is only 40% of the total, which is an all-time low. Of the total number of transactions in the country, only 17% are made in physical money.

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In the country led by Justin Trudeau, Visa said citizens are “ready to move away from cash” as Canada “has one of the highest penetration rates of credit card payments in the world (70%)”. As a percentage of total transactions in 2021, only 17% were made with physical money. Cards make up 60% of transactions and electronic payments 12%.


The latest report from The Global Payments explains that the country is accelerating its transition to cash, which will account for just 2% of all transactions by 2025. From 75% in 2007 to around 30% in 2019.

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Vinted has been targeted by online scammers | Internet



Vinted has been targeted by online scammers |  Internet

Platform online Wynted was attacked by tell jokes. According to Portal da Queixa, a Lithuanian company that buys, sells and exchanges goods has received several complaints from Portuguese users who have been deceived by fraudulent schemes.

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How Asia’s richest woman lost half her fortune in a year



How Asia's richest woman lost half her fortune in a year

60 minutes / YouTube

For years, Yang Huiyan’s fortune has been at the center of headlines, comments, and calculations outside of China.

Yang Huiyan, who is only 41 years old, is not only the richest woman in her country, but also the most the richest in all of Asia.

FROM inherited a real estate empire from his father over ten years ago, his fortune continues to grow. But in 2022, everything changed: last year it suffered a real decline.

According to Bloomberg Billionaires Index calculations, Yang saw his net worth drop more than 52% last year.

In 2021, Bloomberg estimated the fortune of a business woman at about $33.9 billion (about 33 billion euros), which fell to around $16.1 billion (about €15.7 billion) in July last year.

Economic analysts saw this not only as a grim sign of the state of the Chinese housing market, but also as a serious warning that The future of the world’s second largest economy.

This comes as the country’s real estate sector has been hit hard by falling home prices, declining buyer demand and a bad debt crisis that has affected some major property developers since 2020.

The situation has reached the point where some banks ran out of moneywhich caused protests in some cities of the Asian country.

And although Yang remains the richest woman in Asia, her position has begun to falter.

Yang is followed by chemical fiber entrepreneur Fan Hongwei, who also has an estimated net worth of around $16 billion, according to Bloomberg.

But who is Yang Huiyan and how did he make one of the biggest fortunes in the world?


Born in 1981 in Shuntak, a district of Foshan City, Guangzhou Province, in southern China, Yang is the daughter of one of the richest people in the Asian country: Yang Guoqiang.

Raised in one of China’s most influential families, she received an excellent education and was sent to the United States at the time of youth. In 2003, he graduated from the Faculty of Arts and Sciences at The Ohio State University.

Returning to China, he inherited from his father in 2007. most actions Country Garden Holdings, China’s largest real estate company.

Founded in 1992 in Guangzhou, Country Garden Holdings has been successful since its Hong Kong IPO and has raised about $1.6 billion, about the same as Google’s since its 2004 US IPO.

Although Yang is known for staying out of the public eye and living a low key lifestyle, center of countless headlines inside and outside of China.

One of the most high-profile cases occurred in 2018, when legal documents known as the “Cyprus Papers” were leaked and revealed that he had obtained Cypriot citizenship in 2018, despite China not recognizing dual citizenship.


Chinese market researchers describe Yang as a creative woman with business acumen.

In June last year, the International Hospitality Institute recognized it in its ranking the most influential people in the global hotel industry.

However, his business was already showing signs of weakness.

The situation in the real estate market in the country since 2020 has become more complicated not only because of the coronavirus pandemic, but also because the Chinese authorities tried to curb over-indebtedness in real estate.

This resulted in large builders facing payment struggles and forcing them to renegotiate a contract with your creditors.

The crisis worsened when Evergrande, the most indebted Chinese real estate company, defaulted on its dollar-denominated bonds in late 2021 after months of liquidity problems.

Since then and this year, several other major groups, including Kaisa and Shimao Group, have also applied for creditor protection.

The crisis has escalated in recent weeks after news of a “buyers’ strike” after thousands of people stopped paying their mortgages due to the delay in starting construction work on the houses. Due to the delay in the delivery of houses, companies did not start receiving mortgage payments on time.

All this led to the fact that Zagorodny Sad, which felt good in the first months of the pandemic, also faced liquidity problemto such an extent that last July he had to sell shares at a discount of almost 13% to raise funds.

And the long-term picture doesn’t look good for Young, his fortune, or the company he represents.

In a July report last year, ratings agency S&P estimated that real estate sales in China may fall by a third this year because of the mortgage strikes, a collective movement in which buyers decided to put mortgage payments on properties that were behind schedule.


Meanwhile, Capital Economics, an independent London-based economics research firm, predicted that “without sales, many other companies will fail, which is financial and economic threat“for China.

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