BCP reaches record profit of 906 million euros
In Portugal, the result was 786 million euros. Financial margin slowed down, reflecting the evolution of the monetary policy of the European Central Bank.
BCP recorded a consolidated profit of 906.4 million euros in 2024. The result - a maximum since at least 2007 - represents an increase of 5.9% compared to the 856 million euros achieved in the previous year.
In Portugal the result was 786.4 million euros, 8.5% above 2023.
"These were good results", the bank's CEO began by stating when presenting the results.
The consolidated financial margin had a residual evolution of 0.2%, reaching 2.83 billion euros and significantly slowing down the growth seen until 2023, which was due to the rise in interest rates by the European Central Bank, which began a downward cycle in the middle of last year. In Portugal, the margin fell 9% to 1.34 billion euros.
Commissions generated revenue of 808.5 million euros, 4.8% above the 717.8 million euros recorded in 2023. In domestic activity, commissions rose 5% to 588.3 million euros, as a result of the "increase in the customer base", highlighted Miguel Maya.
Consolidated operating costs increased by 12.4% to 1.3 billion euros. In the national operation, the increase was lower, by 9.1%, to 673 million euros.
The cost of risk in the group fell by 22% to 858 million euros. In Portugal the fall was even more significant, by 36.5% to 234 million euros.
Customer resources grew 8% to almost 103 billion euros, while domestic operations grew 5.8% to around 70 million.
The credit portfolio reached 57.2 billion euros, 0.7% above the value recorded in 2023. In this chapter, the amount of loans to buy a house increased from 28 to 28.7 million euros. In Portugal, the portfolio evolved in the opposite direction: it fell 0.7% to 38.4 billion euros.
Non-performing loans, measured by the non-performing exposures (NPE) ratio, fell 6.5% to 1.82 billion euros. In domestic operations, the fall was even more significant, reaching 12.1% and now standing slightly below the one billion euro mark.
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