09-041334 Relatorio INGLES Vol 2 - BCP KOMORI 4 - Millennium bcp

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Annual Report Volume II Financial Statements 2008 Banco Comercial Português 117 49. Related parties The Group grants loans in the ordinary course of its business within the Group and to other related parties. Under the Collective Agreement of Labour for Employees of the Portuguese Banking Sector which includes substantially all employees of banks operating in Portugal, the Group grants loans to employees at interest rates fixed under the above referred agreement for each type of loan upon request by the employees. As at 31 December, 2008, loans to members of the Executive Board of Directors and their direct family members amounted to Euros 754,000 (31 December 2007: Euros: 111,000), which represented 0.01% of shareholders’ equity (31 December 2007: 0.01%). The amount of loans recorded in 2007 are credit cards expenses, which are totally paid in the next month. As at 31 December 2008, the principal loans and guarantees (excluding interbank and money market transactions) the Group has made to shareholders holding, together with their affiliates, 2% or more of the share capital whose holdings in aggregate, together with their affiliates, represent 51.2% of the share capital as of 31 December 2008 (31 December 2007: 61.7%) described in the Executive Board of Directors report, amounted to approximately Euros 2,219,572,000 (31 December 2007: 2,272,183,000). Each of these loans was made in the ordinary course of business, on substantially the same terms as those prevailing at the time for comparable transactions with other persons. Remunerations to the Executive Board of Directors For the exercise of its functions, members of the Executive Board of Directors did not received remunerations besides those that are communicated. Therefore, considering that the remuneration of members of the Executive Board of Directors intend to compensate the functions that are performed directly in the Bank and all other functions on subsidiaries or other companies for which they have been designated by indication or representing the Bank, in the later case, the net amount of the remunerations annualy received by each member are deducted to the fixed annual remuneration. The remunerations paid to the members of the Executive Board of Directors in 2008 amounted to Euros 3,413,000 (2007: Euros 4,710,000), with Euros 367,000 paid by subsidiaries or companies whose governing bodies represent interests in the Group. During 2008 no variable remuneration was attributed to the members of the Executive Board of Directors. During 2008, the costs with Social Security and the contributions to the Pension Fund for members of the Executive Board of Directors amounted to Euros 1,031,000 (2007: Euros 6,518,000). Considering that some members of the Executive Board of Directors were Directors of the Bank and companies Group during 2007 and until their election in 2008, fixed and variable remunerations were paid to them in the amount of Euros 1,001,000, the variable part being related to 2007. Transactions with the Pension Fund During the first semester of 2008, BCP Group repurchased to the Pension Fund, BII Finance Company bonds issued on 25 September 1996 and with maturity on 25 September 2011, in the amount of Euros 232,000,000. During 2008 all the contributions to the Pension Fund were made in cash. The Group has made transactions with the Pension Fund, during 2007, that are analysed as follows: – Contribution of 77,000,000 bonds BPA Floating 29/09/2049 in the amount of Euros 77,205,000, as referred in note 48 Pensions. – Contribution of the economic rights related with the shares of Brisal, Lusoscut – A.E. da Beira Litoral and Lusoscut – A.E. Grande Porto, in the amount of Euros 1,530,000, as referred in note 48 Pensions. – Additionally and as referred in note 48 Pensions, other additional contributions in 2007 were made by the Group in cash, in the amount of Euros 14,997,000. During the year 2007, the Group also sold to the Pension Fund, 23,920,412 shares of Banco Sabadell in the amount of Euros 180,671,000, as referred in notes 7, 22 and 39. Recovery of loans previously charged-off During the year 2007 the Group has accounted for a recovery of loans previously charged-off in the amount of Euros 14,300,000 regarding a set of loans to companies related with a member of the family of a member of the Governing Boards. Retirements of the members of the Executive Board of Directors In 2007, the Group booked Euros 78,864,000 under staff costs related to the present value of the retirement benefits granted to the members of the Executive Board of Directors, who retired during the year. Additionally there was a termination of the contracts with three former Board members in functions at 31 December 2007, for which the Group paid the amount of Euros 18,700,000. Considering the amount provisioned and financed at that time related to the liabilities with pensions, the impact in the net income for the year amounted to Euros 12,770,000, which was compensated by the reversal of the accrual of the pluriannual variable remunerations described above. Regarding the retirement and termination of the employment contracts of the former members of the Executive Board of Directors, curtailment costs were accounted in the amount of Euros 16,633,000.
118 Annual Report Volume II Financial Statements 2008 Banco Comercial Português The shareholder and bondholder position of members of the Corporate's Boards, is as follows: Shareholders/Bondholders Security Number of securities at 31/12/2008 31/12/2007 Changes during 2008 Acquisitions Disposals Date Unit Price Euros Members of Corporate Boards Armando Vara BCP shares 10,000 0 10,000 18-Apr-08 1.84 Paulo José Ribeiro Moita Macedo BCP shares 259,994 200,001 59,993 (a) 5-May-08 1.20 Luis Maria França de Castro Pereira Coutinho BCP shares 247,288 190,228 4 (b) 10-Apr-08 2.00 57,060 (a) 24-Apr-08 1.20 Vitor Manuel Lopes Fernandes BCP shares 20,000 0 12,500 (e) 7-Apr-08 2.12 12,500 (c) 7-Apr-08 0.10 3,749 (a) 24-Apr-08 1.20 64 (a) 29-Apr-08 1.20 3,687 2-Jun-08 1.62 José João Guilherme BCP shares 51,000 50,500 500 22-Jan-08 2.08 51,000 (b) 16-Apr-08 0.20 Nelson Ricardo Bessa Machado BCP shares 259,992 200,000 2 (b) 15-Apr-08 0.25 59,992 (a) 24-Apr-08 1.20 Members of Supervisory Board Gijsbert Swalef BCP shares 282,633 217,416 65,217 (a) 24-Apr-08 1.20 Ângelo Ludgero da Silva Marques BCP shares 1,765,013 357,740 1,000,000 17-Apr-08 2.74 407,273 (a) 24-Apr-08 1.20 BCP Finance Company 5,543 PCT Eur 2,500 2,500 António Luis Guerra Nunes Mexia BCP shares 1,299 1,000 3 (b) 17-Apr-08 0.18 299 (a) 24-Apr-08 1.20 António Manuel Ferreira da Costa Gonçalves BCP shares 4,440,807 4,015,577 1,204,530 (a) 24-Apr-08 1.20 74,182 24-Apr-08 1.85 725,818 28-Apr-08 1.86 20,700 (a) 29-Apr-08 1.20 Bcp Obrg Cx Sup Inv Mill II 12/10 2,000 2,000 Francisco de La Fuente Sánchez BCP shares 2,313 1,780 533 (a) 29-Apr-08 1.20 BCP Bonds Cx Rend. Cresc. Feb 06/08 0 900 900 14-Feb-08 50 BCP Bonds Cx TOP 6 May 06/08 0 1,000 1,000 9-May-08 50 Bonds Cx Aforro Cresct 6% Sep 2006/08 0 1,600 1,600 5-Sep-08 50 BCP Bonds Cx Top 10 November 2006/2008 0 400 400 27-Nov-08 50 BCP Ob Cx Millennium Cresc August 2010 500 500 BCP Ob Cx Multi-Rend Europa Oct. 2010 1,500 1,500 BCP Obg Cx Inv. Selec. Mundial Nov 07/09 2,000 2,000 BCP Obg Cx Inv. Especial 2007/2009 3ª Em 300 300 BCP Obg Cx Super Investimento Feb 08/11 1,000 0 1,000 (d) 12-Feb-08 50 BCP Obg Cx Inv. Mercadorias March 08/11 1,500 0 1,500 (d) 25-Mar-08 50 BCP Obg Cx Energias Renováveis 08/2011 1,000 0 1,000 (d) 17-Jun-08 50 BCP Obg Cx Subordinadas 1ª Série 1,600 0 1,600 (d) 26-Sep-08 50 João Alberto Pinto Basto BCP shares 162,737 125,186 1 (b) 16-Apr-08 0.20 37,551 (a) 24-Apr-08 1.20 José Eduardo Faria Neiva dos Santos BCP shares 1,383 1,000 304 (a) 24-Apr-08 1.20 158 31-Jul-08 1.37 2 4-Aug-08 1.12 6 1-Sep-08 1.18 93 9-Sep-08 1.25 5 2-Oct-08 1.11 105 6-Oct-08 1.02 104 10-Oct-08 0.93 BCP Obg Cx Sup Aforro Millennium 1ª 2013 700 0 700 (d) 25-Mar-08 50.00 BCP Obg Cx Sup Aforro Mil Sr B 1ªE 2013 500 0 500 (d) 28-Oct-08 50.00 Keith Satchell BCP shares 3,769 2,900 869 (a) 24-Apr-08 1.20 (continue)
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2 Annual Report Volume II Contents
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09-041334 Relatorio INGLES Vol 2 - BCP KOMORI 4 - Millennium bcp

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