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BCP Increases Profits Sixfold to €74.5M in First Six Months – Banca & Finanças



BCP Increases Profits Sixfold to €74.5M in First Six Months - Banca & Finanças

Millennium BCP posted a profit of €74.5 million in the first half of 2022, more than six times the €12.3 million it posted in the same period last year.

Net interest income increased by 28.6%, reaching 985.2 million euros compared to 765.8 million received in the same period last year.

Commissions amounted to 387.6 million euros, an increase of 9.8%.

Operating expenses decreased from 590.1 to 516.2 million euros (down 12.5%).

Non-performing asset exposure ratio (Ineffective impact) fell by 500 million euros, from 3% to 2.5%, while non-performing loans for a period of more than 90 days fell from 2.5% to 1.5%.

The total capital ratio was 15.3%, while the CET1 ratio reached 11.3%, which is above the regulatory requirements.

In Portugal, Millennium posted a net profit of €174.5 million, representing a 63.1% increase compared to the first half of 2021.

Net income of €74.5m includes extraordinary effects related to Bank Millennium (a financial institution controlled by a Portuguese bank), including fees of €257.8m “related to the portfolio of mortgage loans” in Swiss francs, in addition to “a contribution of 54.3 million euros.” to the Institutional Protection Fund, as well as an impairment of Bank Millennium in the amount of $102.3 million.

However, the Polish financial institution improved its negative contribution to the overall result: it grew from minus 110.3 million euros to minus 56.6 million euros.

However, when presenting the results, Miguel Maia said he believes in the success of the institution: “a bank in Poland is capable of delivering results,” he said, explaining that “if not for IPS [contribuição obrigatória na Polónia] would already show results.

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“These,” he explained, “are cyclical situations, we must be prepared for them and not give up. We must find solutions,” he stressed.

The financial institution, headed by Miguel Maia, continues to be affected by the performance of a bank he controls in Poland due to Swiss franc loans made in 2008. The appreciation of the Swiss currency in the foreign exchange market has caused difficulties for holders of these loans, and in 2019 the European Court of Justice ruled that customers have the right to demand that loans be converted into local currency, which led Bank Millennium to create reserves that worsen the results they consolidate in the Portuguese group.

On Tuesday, Bank Millennium announced a loss of about 56.6 million euros between January and June, which it once again justified with reserves flowing from these loans. The Polish institution said in a statement that the results were affected by “regulations on the legal risks associated with a portfolio of mortgage loans denominated in foreign currencies.”

In total, in 2021, BCP’s profit was 138.1 million euros, which is 24.6% less than the 183 million registered in 2020.

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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