In the first six months of this year, the five largest banks in the Portuguese market recorded a combined profit of over 2.6 billion euros, equivalent to a daily amount close to 15 million euros.
At stake is an increase in profits compared to the first half of 2023 – at that time by almost two billion euros – of around 31.4%, taking into account the results published in the last two days by BPI, BCP, Caixa Geral. deposits, Novo Banco and Santander Portugal.
Under the leadership of Paulo Macedo, the state-owned bank recorded its highest profit ever, at 889 million euros, up 46.2% from the same period last year.
The second-highest result was achieved by Santander, with 547.7 million euros. The institution, headed by Pedro Castro e Almeida, achieved the most significant increase in profits (64.2%) compared to the previous year.
BCP, owned by Miguel Maia, posted a profit of 485.3 million euros in the first half of the year, up 14.7% compared to the same period last year.
As for the revenues of BPI, headed by João Pedro Oliveira e Costa, they amounted to 327 million euros, an increase of 28% over the year.
Finally, Novo Banco, led by Marc Bourque, saw its half-year profit fall, albeit only slightly: €370.3 million, down 0.8% compared to 2023.
The explanation for this size of total profit is largely related to the growth of banks’ financial margins, caused by the interest charged on loans, which remain high.
Author: Joao Maltes
Source: CM Jornal
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