Reasons for sudden resignation explained

In explaining his sudden resignation as president of the Balearic savings bank Sa Nostra, Miquel Capellá said that he had noted a certain “tension” and found that the bank was in the news “for socio-political rather than financial matters.” Capellá, a lawyer, who had held the post since October 1999, said that he was no longer “a president of consensus” in the new regrouping of forces and trends in the bank. He added that the new president will have his full, unconditional support. “Institutions are always above people and the aim of all financial bodies is to transmit tranquility and confidence to their clients,” Capellà said. He also said that recent criticism by environment minister Jaume Matas had also upset the bank's internal peace. He described Matas' comments as a mistake. He also admitted that he may have lost the support of factions which had earlier backed him. He said that he had not been subject to political pressure to resign, adding he was convinced that the administration board would continue with the projects started during his term of office.