BCP’s profit for the first nine months of this year was 59.5 million euros, which is 59.3% less than in the same period last year.
The bank, led by Miguel Maia, posted a profit of € 146.3 million in the first nine months of 2020. This is 45.9% less than in the same period last year, due to a significant increase in impairment in the face of the pandemic.
The drop in results came at a time when the financial institution created “provisions of € 313.5 million to cover legal risks related to loans in Swiss francs in Poland and separate items of € 87.6 million in Portugal related to adjustments to staff costs ”, according to a statement sent Wednesday at CMVM…
Compared to the same period in the previous year, in September, the number of workers decreased by 641 people. 62 people left for international activities.
During this period, net interest income increased by 1.3% to € 1,168.6 million, while banking income increased by 2.6% to € 1,706.4 million.
On the other hand, operating expenses increased by 4.8%, from 812.7 million euros in the same period last year to 851.7 million euros before September.
With regard to loans to customers (net), it increased by almost 5% and approached 56.4 billion euros, while total customer funds increased by 8.7%, i.e. by 7.3 billion euros compared to the same period in 2020 of the year.
The statement also states that BCP has total capital and CET1 ratios of 15.2% and 11.8%, respectively.
(News updated with more information.)
