Wear and tear is bad for Caixa, says chairman under fry – 07/19/2023 – Market

With Caixa Econômica Federal in the sights of members of the centrão, who pressure the Lula government (PT) for a broad ministerial reform, President Maria Rita Serrano says she does not feel insecure in charge of the bank, but sees the exposure as negative for both her image and that of the public institution.

Questioned by journalists about what it has been like to work under fry, Serrano paraphrased statements given by the Minister of Health, Nísia Trindade, in the face of rumors of an eventual change of command.

“I saw an interview of her [ministra Nísia Trindade]which I think portrays the [meu] feeling. She said: I don’t feel insecure, but this exposure is very bad. It is even bad for the bank, because it creates insecurity,” she said.

“It doesn’t just involve me, it’s a process of trying, in fact, to wear down the government itself. They’re not just talking about me and Caixa. They’re talking about all the ministries, especially the ministries where women are”, he added.

The female representation in the first echelon of the PT administration fell to 10 titular women (instead of 11), with the dismissal of Daniela Carneiro from the Ministry of Tourism.

Caixa’s president said she was fulfilling her role and minimized the weight of a possible replacement. “Obviously, the exposure is bad. Now, it is part of democracy. There are interests, negotiations that involve the government’s basic democratic process, so this dispute is part of democracy,” she added.

As shown to Sheet, Serrano has been the target of criticism from the government and from the PT itself. Allies of the representative assess that, given this, it should be easier to give up command of the bank. The most cited name to replace her is Gilberto Occhi (PP), who was Minister of Cities in the Dilma Rousseff (PT) government and has already chaired Caixa.

As for President Lula’s recommendations in their recent meetings, Serrano says that the Chief Executive just “sent” her to work. Caixa is the bank responsible for making payments on the installments of the Bolsa Família program and also for releasing financing for Minha Casa, Minha Vida.

“The only orientation from the president is that the bank has to work. It has to dialogue with the entire public sector, especially with public banks, to provide adequate and quality service to Bolsa Família staff,” he said.

“In the case of Minha Casa, Minha Vida, the expectation is for us to structure ourselves, we are already structured, in order to be able to handle the demand”, he added.

The president of Caixa says she took over the management of a “completely dismantled” bank, citing the lack of investment in technology as an example, and alleges that the previous management was based on “fear, persecution and harassment”. Former Caixa president Pedro Guimarães is accused of sexual harassment against bank employees.

“The bank stopped investing in technology in the last period, which left the bank one step behind the financial system, this has a price for us. Now we are running after the loss”, he said.

“We’ve been trying since January to rebuild the bank and focus on what matters to the government as a public institution, the country’s development and, at the same time, competing in the financial system because the bank needs to be profitable.”

Caixa was criticized by the Lula government for the announcement of charging fees for transfers made by legal entities through Pix. After an order from the Planalto Palace, the bank backed down and suspended the start of operations.

According to Serrano, the numbers obtained by the bank in six months of management are promising. “We grew in credit operations by almost 9%, we have a record number of loans for infrastructure, almost R$ 9.2 billion financing states and municipalities”, he extolled.

For her, the institution’s resumption of protagonism “is perhaps one of the reasons for so much pressure”.

Serrano is the fourth woman to chair Caixa. Before her, the position was occupied by Miriam Belchior (Executive Secretary of the Civil House), Maria Fernanda Coelho (Executive Secretary of the General Secretariat of the Presidency) and her predecessor, Daniella Marques.

The current president has been a Caixa employee for 33 years and has held various positions at the institution. She was a workers’ representative on the bank’s board of directors and was president of the Bank Workers Union between 2009 and 2012.