TAILIEUCHUNG - Growing from Crises. The Portuguese Saving Bank Montepio Geral in the nineteenth-century

From a banking group’s perspective, a range of factors play a role in the choice of branching versus subsidiarization, including banks’ business focus and differences in regulatory and tax regimes across jurisdictions. Banks with significant wholesale operations tend to prefer a more centralized branch model that provides the flexibility to manage liquidity and credit risks globally and serve the needs of large clients. The funding costs for the wholesale group are likely to be lower under the branch structure, given the flexibility to move funds to where they are most needed. A subsidiary structure, in contrast, puts constraints on the. | Growing from Crises. The Portuguese Saving Bank Montepio Geral in the nineteenth-century Renato Jorge Pistola PhD student at the Faculdade de Letras de Lisboa Supervised by António Castro Henriques Rua dos Arneiros n. 55 1. dto 1500-055 Lisboa Portugal Growing from Crises. The Portuguese Saving Bank Montepio Geral in the nineteenth-century Introduction We started in the last fall a doctoral thesis dedicated to savings banks in Portugal entitled Between Mutualism and Capitalism the first century of the Montepio Geral 1840-1940 . Our research focuses mainly on the specificity of the Caixa Económica Montepio Geral a saving bank attached to the mutual association Montepio Geral within the context of saving banks in nineteenth- and twentieth-century Portugal. The foundation model chosen by the Caixa Económica Montepio Geral henceforward CEMG followed a path trodden by several savings banks in different European countries as documented by the vast literature on the creation and development of these organizations from the late eighteenth Essentially this model blended philanthropic objectives with a profit-oriented capital management. Like most of its European counterparts the CEMG was attached to a Mount of Piety port. Montepio from its inception. The sole purpose of its existence was to contribute to the sustainability of the mother institution. In these circumstances its profits were diverted to the payment of pensions of the Montepio members. Our thesis aims to understand how this relationship changed during the course of a century 1840-1940 . Indeed there 1 PIX Manfred e Hans PHOL dir. . L Histoire dês Caisses d epargne européenne La diffusion de l idée de caisses dépargne au XIXe siècle Paris 1993 DUET Daniel. Les Caisses d Epargne. Paris Seuil Que-Sais-je Les éditions de 1 Épargne 2000 CRISTEN-LÉCUYER Carole. Histoire Sociale et Culturelle dês Caisses d Epargne en France 1818-1881. Paris Economica 2004 HORNE H. Oliver. .

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