BPI saw its profit in the first nine months of the year decrease by 5% in Portugal, to 362 million euros. The bank also recorded a loss of 15 million euros in Mozambique. And in Angola, despite the reduction of its stake in BFA to 33.35%, BPI recorded profits of 42 million euros, 10% more than in the first nine months of 2024. In consolidated terms, the group’s profits fell 12%, to 389 million euros.
The financial margin (difference between interest charged on credit and interest paid on deposits) fell 11% in consolidated terms, to 657 million euros, with the margin in Portugal falling 7%, to 277 million euros. This factor contributed to the slimming of results, due to the decline and stabilization of interest rates for a year now. Net commissions also fell by 7%, to 227 million euros, but only, as explained by the BPI president, because last year saw “a gain one-off [não recorrente] of 16 million euros”.
Total credit amounted to 32.6 billion euros, which reflected an 8% drop compared to the first nine months of 2024. Credit to individuals increased by 10%, to 18.1 billion euros, with emphasis on the increase in mortgage loans, which grew 12%, to 16.7 billion euros, and the increase in credit granted to companies, which amounted to 12.1 billion euros. The increase in financing for home purchases also derives from measures to support young people who can ask for credit with a State guarantee, which at BPI has already amounted to 783 million (including the guarantee), an amount corresponding to 4 thousand contracts, according to the bank, owned by the Spanish Caixa Bank.
With regard to customer resources, BPI recorded a growth of 10%, to 42.6 billion euros, of which 32.1 billion are customer deposits (9% more) and 10.5 billion arise from the contracting of off-balance sheet products (such as funds and insurance), a segment that grew by 14% compared to the first nine months of 2024.
Structural costs rose 2%, to 383 million euros, with emphasis on personnel costs, which amounted to 191 million euros. The ratio cost-to-income (which indicates the weight of structural costs in relation to banking income) increased from 37% in 2024 to 40% in 2025.
Sale of part of the position in BFA was the “largest operation in Africa since 2015”
The sale of 14.75% in BFA bank, in Angola, allowed BPI to earn 103 million euros, at the exchange rate at the time (September). And maintaining the remaining stake in BFA (33.35%) allowed BPI to earn 42 million euros, which confirms the bank’s good performance. This position is valued at 232 million euros.
The executive president of BPI, João Pedro Oliveira e Costa, stated at the results presentation conference, this Friday, that the operation of placing 14.75% of BPI’s position on the stock exchange was successful, exceeded the offer five times and was “placed with thousands of new Angolan investors”. “We carried out the largest operation in Africa since 2015”, highlighted the manager.
BPI clarifies that the “impact on CET1 prudential capital is neutralized until the proceeds from the sale are received in Portugal”, which has not yet happened. And it has not yet been decided where the money from the sale will go. BPI awaits a recommendation from the ECB on dividends pending receipt.
The total capital ratio is 17.8% and the ROE (return on equity), which serves to measure the return on capital for shareholders, was 16.4%.
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