Download AMAN Application from Apple store and Google play                                Follow us on : Twitter - Facebook - YouTube - Instagram

STATUTES GENERAL ASSEMBLY SECRETARY GENERAL CONTACTS Follow us on Twitter Follow us on Facebook Follow us on Instagram
Daily News
MedNEWS HOME
CNA - الرئيس اناستاسياديس ورئيس الوزراء البريطاني يناقشان مسألة خروج بريطانيا من الاتحاد وتطورات القضية القبرصية
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
أبلغ رئيس الوزراء البريطاني بوريس جونسون في محادثة هاتفية مساء الأربعاء الرئيس نيكوس أناستاسياديس بشأن آخر التطورات المتعلقة بخروج بلاده من...
CNA - OSCE PA Special Representative on Corruption holds meetings with UN and OSCE representatives in Vienna
CNA - Nicosia - OSCE Parliamentary Assembly Special Representative on Fighting Corruption, Cypriot MP, Irene Charalambides, held meeting this...
CNA - الأمين العام للأمم المتحدة يشدد على ضرورة التوصل إلى الشروط المرجعية لاستئناف المحادثات
وكالة الأنباء القبرصية - نيويورك / الأمم المتحدة - ا زوبانيوتيس
شدد الأمين العام للأمم المتحدة أنطونيو غوتيريس يوم الأربعاء على أهمية توصل الجانبين في قبرص على وجه السرعة إلى اتفاق...
Lusa - Business News - Portugal: Top headlines on Thursday
Lisbon, Sept. 19, 2019 (Lusa) – Police suspicions about some wildfires and a major fine for EDP are among the...
Lusa - Business News - Portugal: Cartel accusations not substantiated - BCP




Lisbon, Sept.10,2019 (Lusa)–Portuguese bank BCP is to judicially challenge a fine of €60 million imposed by the Competition Authority (AdC) for cartelling sensitive information on housing loans, underlining that the accusations are not adequately substantiated, it announced on Monday.
The bank stressed that throughout this process, initiated by the AdC in 2012, it had the opportunity to provide all the clarifications requested and to explain the reasons why the accusations made against it were not adequately supported and substantiated.
According to the bank, the authority's decision does not show that the information-sharing practices imputed to BCP had any negative effect on consumers.
BCP also added that in the period covered by the decision includes the pre-financial crisis of 2008, in which there were very competitive commercial practices between institutions, to strengthen market shares.
"After 2008, BCP's pricing reflected the generalised increase in credit spreads as a result of the economic and financial crisis and the country's financing conditions," the bank said.
On the other hand, the BCP highlighted, the information exchanged by the marketing departments corresponded to the standard spreads that are disclosed through the general price list and not to the prices that ended up being practised in individual negotiations with customers.
BCP also guaranteed that it is committed to strictly complying with the competition rules.
The Competition Authority sentenced 14 banks to fines totalling €225 million for concerted action on sensitive information on mortgage lending between 2002 and 2013, the AdC said on Monday.
The banks convicted are "BBVA, BIC (for facts practiced by the then BPN), BPI, BCP, BES, Banif, Barclays, CGD, Caixa de Crédito Agrícola, Montepio, Santander (for facts practiced by them and by Banco Popular), Deutsche Bank and UCI", according to the statement by AdC.
The authority stated that the banks participating in the concerted practice exchanged sensitive information on the supply of credit products in retail banking, namely housing loans, consumer credit and corporate credit.
PE/IMYN // ADB.
Lusa


Agency : LUSA

Date : 2019-09-11 09:46:00







 

Copyright © Alliance of Mediterranean News Agencies 2017