The entity registered numbers red 12.218 million euros in first half of year
The Popular suffered a leak of deposits between January and June of this year a few 18.552 million euros, according to data collected in 'financial statements' published on Tuesday by Spanish Banking Association (AEB). On or hand, Popular recorded a loss of 12.218 million euros in first semester, as announced by Santander in July.
Specifically, at end of last financial year, entity had 71.473 million euros in deposits to customers, while at end of first six Popular had 52.921 million euros in deposits from ir customers. Thus, output amounts to 18.552 million euros, reports Europa Press.
This is data net, i.e., with inputs and outputs that were produced. According to financial sources, only running cash of Popular reached 20,000 million since it began its crisis of credibility to purchase of Santander.
The outflow of deposits was particularly significant between April and June, that is to say, from month in which its n president, Emilio Saracho, announced that bank was doomed to a capital increase or a sale and month in which you carried out your resolution. In that period, exit of deposits from customers rose to 14.251 million euros.
- Funds with losses in Popular resort to european court to rescind its settlement
- Santander raises loss of Popular up to 12,000 million after purchase
- The Santander injected 13,000 million in Popular to address leakage of deposits
The Santander, nothing more to buy for entity to arrive on 7th of last June, he injected 13,000 million euros to cater for all requests and slow down bleeding of cash. It became one of largest money transfers carried out in Spain in such a short time, say sources knowledgeable of sales process.
The purchase occurred on a Wednesday, and for several days he continued leaving money as a trail of unstoppable. Monday, 12 stopped leak, point out industry sources. That day re were already more entries than cash outflows.
The problem of Popular, mired in a debacle of stock and a degradation of your note by rating agencies, it became worse because ir depositors had institutional investors (such as autonomous communities and public companies), which moved large amounts of money, as acknowledged by minister of Economy, Luis de Guindos, in Congress.
Bonuses for shareholders of Popular
on or hand, Santander made public conditions for former shareholders of Folk who accept loyalty bonuses to compensate m for depreciation of ir titles following resolution of entity. Will be able to order m from 13 September until 7th December next.
The delivery date of bonds will be "no later" than December 15 of this year and admission to trading of same will take place from January 15, 2018.
So, first payment of compensation will be 15 of march of next year, according to details in prospectus of issue of se debentures, registered in National Commission of Market of Values (CNMV) on Tuesday.
The entity chaired by Ana Botín announced last July that will compensate with loyalty bonuses to customers retailers of Popular who acquired shares of bank between may 26 and June 21, 2016, coinciding with increase of share capital of 2,500 million euros, of Popular.To access offer it is necessary to renounce "irrevocably and unconditionally" to take legal action and claims against Santander. If you have already been initiated, should be terminated. "The reasonable value of bond of loyalty is lower than ir nominal value", as it is pointing in prospectus of operation. In particular, fair value of bonds is between 70% and 75% according to AFI, and 68% and 71.3%, according to Intermoney. This is supposed to recover 100% of investment will be necessary to wait within several years.