{"id":349,"date":"2009-06-16T00:01:00","date_gmt":"2009-06-16T00:01:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=349"},"modified":"2009-06-16T00:01:00","modified_gmt":"2009-06-16T00:01:00","slug":"malos-tratos","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/malos-tratos\/","title":{"rendered":"Mistreatment."},"content":{"rendered":"
Continuing to observe the behaviour of banks in these critical times, we have come across several very curious and significant cases in which solvent customers are strategically mistreated. Let us explain this with an example, fictitious of course:<\/p>\n

\u00abDon<\/span> Solvent Entrepreneur (E. S.<\/span>) must renew a credit policy of your company ERE, S.A.<\/span> on its usual bench, the Molculo Bank<\/span>. The amount is \u20ac1 million at annual Euribor +1.5%, which had always been guaranteed with the company's own buildings and installations. ERESA<\/span>, valued at almost double that amount. The company has reduced its workforce in 2008 and 2009 (as the more astute among you will have already guessed), but it is still standing with a dignity envied by most. With much reduced profits but without losses and with good prospects of a merger with another company in the sector, a strategic alliance that would leave the group in a position of clear competitive advantage. The current circumstances and prospects are, therefore, among the best that can be found in the business world today. In other words, a good old-fashioned bank customer.<\/p>\n

\"\"<\/a>Well, Don E. S.<\/span> cannot understand why this year, his banker and friend S. M.<\/span> (Soy\u00fan Mandao<\/span>) explains to him that the conditions have been tightened due to new management in the bank's risk department. For the renewal of the policy, the bank is demanding collateral for the warehouses, installations, machinery, the fleet of trucks, the adjacent land, the not so adjacent land and his personal villa. A total value, which even in this day and age, more than quadruples the \u20ac1 million policy to be renewed. But that's not all, the rate to be applied for the renewal of the bloody policy is now 7%! (they are ashamed to index it to the Euribor and round it off by hand).<\/p>\n

Solvent Entrepreneur<\/span> cannot believe that the Molculo Bank<\/span>, its long-established bank (although a few years ago it was called Muntiro Bank<\/span>), is doing this to him. Y I am<\/span> only repeats the assigned mantra: \u00abI'm sorry Empren<\/span>, The risk managers have become inflexible, there's nothing I can do. Many are not even being given the option to renew their policies... You know what it's like, what can I tell you\u00bb.<\/p>\n

\"\"<\/a>Of course, E. S.<\/span> is not going to pledge all his assets for a 1 million policy, let alone at 7% per annum! So he decides to visit the director of the Jeando Bank<\/span>, recommended by a good friend. There he gets a policy for 600.000\u2032- at Euribor +2,25% guaranteed by the warehouses and facilities of ERESA<\/span>. He also goes to the plodding and almost pre-retired director of the Mopueden Bank<\/span>, who had so often proposed to his father good conditions for his father to ERESA<\/span> (when it was still called E. Solvente e Hijos, S.A.<\/span>). There he gets 400.000\u2032- \u20ac more at Euribor +2%, secured only with the land adjacent to the company.<\/p>\n

Finally Empren<\/span> (he's almost like family now, isn't he?) manages to return the policy within the deadline to the Molculo Bank,<\/span> that this is the end of its commercial relationship with ERESA<\/span>. Surprisingly (or not), however, he maintains his personal relationship with I am<\/span>, The Solvente and the Mandao have even been spending their summer holidays together for years.<\/p>\n

\"\"<\/a>One day, while sharing the third tinto de verano (a traitor if ever there was one) and some boquerones (anchovies) at a beach bar, I am<\/span> he commented absentmindedly to Empren<\/span> that the risk managers were renegotiating debts left, right and centre with business clients in distress, some even in a pre-insolvency situation. That they had no other solution than to refinance policies, with hardly any guarantees and in demolition conditions, if they did not want to eat more real estate and uncover more bad debts than the Bank of Spain was willing to ignore. And while they were asking for the fourth round, he began to indiscreetly and recklessly tell him about the case of the 1.2 million euro policy renegotiated for a company named Ebitdapena, S.A.<\/span>....\u00bb<\/p>\n<\/blockquote>\n

\"\"<\/a>This is just a humorous example of what today's hard-pressed banks are doing. Due to the inability to release asset operations with customers in the red, they have no choice but to release ballast through solvent customer debt. In other words, they mistreat solvent debtors to the point of forcing them to transfer their credit operation to other institutions. It does not matter how solvent or profitable this good customer has been, is and will be in the future. After all, what bank today cares about the future? A few months or years ago, a customer like our friend Solvent Entrepreneur<\/span>, was a treasure for any entity. And yet today the priority is bailing water<\/a> and coefficients, balancing balance sheets and defaulting on payments by hammering. In short, surviving at the cost of whatever<\/a>.<\/p>\n

It has always been said: \u00abIf you owe the bank 1 million, the bank has you on the hook. If you owe the bank 1 billion, you are the one who has the bank on the hook.<\/span>\u00ab. Well, it is clear that this maxim is an understatement. And today, the banks are not only caught not only by the debtors of 1 billion but also by the defaulters of small and medium-sized mortgages. It is the power of the anthill next to a large, seriously ill and dying prey.<\/p>\n

That's how bad banking is, gentlemen. Of course, this doesn't happen to one's own bank, it always happens to other people's banks, whether or not they are in the list<\/a> of the downgrades<\/span> massive.<\/div>","protected":false},"excerpt":{"rendered":"

Siguiendo con la observaci\u00f3n del comportamiento de la banca en estos momentos cr\u00edticos, hemos topado con diversos casos, muy curiosos y significativos, en los que se maltrata estrat\u00e9gicamente a los clientes solventes. Vamos a explicarlo con un ejemplo, por supuesto ficticio: \u00abDon Emprendedor Solvente (E. S.) debe renovar una p\u00f3liza de cr\u00e9dito de su empresa […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-349","post","type-post","status-publish","format-standard","hentry","category-sin-categorizar"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=349"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/349\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}