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Clara Raposo is not part of the BCP administration – Banca & Finanças

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Clara Raposo is not part of the BCP administration - Banca & Finanças

After all, ISEG president Clara Raposo will not be on the BCP board of directors. Also will not continue the work of Teofilo da Fonseca, who has already come from the previous team.

The information was made public on Monday by the bank, which, in a statement sent to the Securities Market Commission, says that it has received from the European Central Bank confirmation of the “assessment of the adequacy of the members of the Board of Directors and the Audit Committee elected at the General Meeting of Shareholders for the four-year period 2022/2025 ., the Board of Directors started its work today”.

However, the bank explains that “Clara Raposo and Teofilo da Fonseca were not subject to the aforementioned suitability assessment as they reported for personal reasons their inability to integrate into the board of directors.”

The Financial Institution stresses that “the identification and selection of two non-executive members is carried out in accordance with the Bank’s succession planning provisions,” a process whose outcome “will be disclosed in due course and will not affect the normal functioning of the Board.”

Clara Raposo was announced in April as a new member of the bank’s non-executive management.

As for the new administration, BCP has made a bet on continuity, with Miguel Maia remaining as CEO and Nuno Amado as chairman.

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Economy

Electricity and gas prices for families to rise this Saturday

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Electricity and gas prices for families to rise this Saturday

Increases in the price of natural gas and electricity for residential consumers in regulated and liberalized markets will come into effect this Saturday, which in some cases will increase the monthly bill by almost 40 euros.

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Economy

Portugal Listed Company Not Reporting: “Auditors with Restricted Access to Objects” – Mercados

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Portugal Listed Company Not Reporting: "Auditors with Restricted Access to Objects" - Mercados

Three months before the end of fiscal year 2022, Reditus continues to not approve or release last year’s financials.

“Reditus – Sociedade Gestora de Participações Sociais, SA, hereby informs that the previously published restrictions remain, and for these reasons, until September 30, 2022, it could not approve and publish individual and aggregate results relating to 2021,” the statement reads. company submitted to the Securities Market Commission (CMVM) this Saturday, October 1.

“Because the auditors had limited access to the premises and verification procedures, they alerted Reditus management that closing the financial statements is particularly time-consuming and therefore the auditors must complete the audit,” he said. approves the technological led by Francisco Santa Ramos.

“And in fact, despite the efforts of Reditus, as well as its auditors, the surrounding context of the pandemic has thus caused significant disruption in the process of completing financial statements and disclosing them,” explains the company, whose main shareholder Miguel Pais do Amaral (24.74 %), followed by the Moreira Rato family (10.2%), according to information on its website.

“For these reasons, Reditus SGPS, SA. reports that it cannot meet the deadline for the publication of its individual and consolidated accounting documents, estimating – depending on the elements currently available – that this publication will be carried out in the month of October. 2022,” concludes the company, which ended 2020 with a loss of 1.06 million euros, comparable to a positive result of 49 thousand euros in the previous year.

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Economy

Is your loan reviewed in October? Get ready. Installment increase can be up to 45%

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Is your loan reviewed in October?  Get ready.  Installment increase can be up to 45%

Euribor rates rose sharply in September and will severely penalize those whose mortgages are renegotiated next month. View simulations

October should be a month of pleasant surprises for most Portuguese. Most of them will receive 125 euros in state support to cope with the effects of inflation. Those with children under the age of 24 will receive 50 euros for each child. And pensioners will receive a supplement equivalent to 50% of their pension.

But October has other surprises to consider financially. These are not at all positive. For many, gas and electricity prices will rise. And the Portuguese with mortgages, whose contracts will be renegotiated next month, are in for the worst of the unpleasant surprises: their house down payment will increase significantly.

This is because the overview of the contracts of those with a home loan is based on the average of the respective Euribor for the previous month, which it uses as an index. And in September, both the three-month-old Euribor, and the six-month-old, and the 12-month-old Euribor behaved the same way: they grew a lot. This is, in fact, the first time that the effect of positive euribor rates will be felt. This leads to an increase in the payment in October, which may exceed 200 euros.

But the bad news doesn’t end there, as these values ​​are expected to continue rising in the coming months. This is because the Euribor rates are closely linked to the changes in interest rates made by the European Central Bank, and this Wednesday the body controlled by Christine Lagarde. gave an indication of a new increase in October, which may reach even 0.75 points.

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Increases from 95 to 200 euros

Contracts indexed to the six-month Euribor, which make up the largest share of home loans in Portugal, will for the first time feel the impact of the rate in positive territory, where it has remained since June 6. And this is the second review this year.

This means that for a loan of 150 thousand euros for 30 years with a spread of 1% and an average Euribor rate for September, the monthly payment will be 600.51 euros, which is 146.44 euros more than has been paid since the last loan review. . Corresponds to an increase of 32%.

The six-month average Euribor rose from 0.466% in July to 0.837% in August, and in September it stands at 1.596%. The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 6 months

pays

454.07

go pay

600.51

Increase

146.44

Those who have contracts indexed to 12-month Euribor and who will experience an increase in interest rates for the first time in 2022 will experience a larger increase. Since the contract is renegotiated from year to year, its holder will have to pay plus 201.72 euros in installments at home when you have to deliver 651.16 euros to the bank. In the last 12 months I have paid 449.44 euros. Corresponds to a 45% increase.

After soaring to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been above 0% since April 21. Its average also rose from 0.992% in July to 1.249% in August. And in September, the average figure is already at the level of 2.33%.

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installment in October

150 thousand euros, 30 years, spread 1%

Euribor 12 months

pays

449.44

go pay

651.16

Increase

201.72

On the other hand, in contracts indexed to the three-month Euribor, the effect will be smaller, but closer to one hundred euros. The amount will rise to 561.96 euros, which is 95 euros more than in July. The increase corresponds to an increase of 21%.

This year, this is the third upward revision of this type of contract, they were paid another six euros in April and another 17 euros in July.

The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months). The three-month average Euribor rose from 0.037% in July to 0.395% in August and currently stands at 1.011%.

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 3 months

pays

466.10

go pay

561.96

Increase

95.86

Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to rising inflation in the eurozone, a trend that has accelerated with the start of Russia’s invasion of Ukraine.

Christine Lagarde thinks the ECB needs to act “whatever you can do” return “inflation to 2% in the medium term,” the ECB president stressed at an event in Frankfurt this Wednesday.

According to Lagarde, if the bank does not go for a new increase in interest rates, the consequences for the economy will be more serious than the increase in the cost of credit. “Our goal is not to slow down growth, our main goal is to ensure price stability. This is what the ECB needs to achieve,” he added.

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