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Portugal's Left Bloc leader slams head of CGD bank for lack of transparency

Xinhua, October 29, 2016 Adjust font size:

The leader of Portugal's Left Bloc Party, Catarina Martins, one of the two left-wing parties backing the Socialist minority government in parliament, slammed the head of state bank Caixa Geral de Depositos (CGD) on Friday for refusing to be transparent about his income.

"Someone cannot head the CGD without complying with obligations to transparency over personal income," she said during a visit to a hospital in Braganca, north Portugal, adding that the bank's situation was "regrettable."

Martins' comments came after local media reported on Friday that President of CGD Antonio Domingues had not been obliged to hand in a declaration of his earnings at the constitutional court on Friday.

However earlier on Friday Portugal's Finance Minister Mario Centeno reassured the Portuguese that there was "not a lack of scrutiny" in CGD.

Ailing bank CGD had to be rescued in a 5-billion- euro (about 5.5 billion U.S. dollars) recapitalisation plan by Portugal and the European Commission earlier this year.

Portugal is still suffering following two bank rescue's last year, with rating agency Fitch recently pointing out that the country was at risk of subdued growth and legacy problems in the financial system. Endit