BPI announced a profit of 389 million euros in the first nine months of the year, reflecting a 12% decrease compared to the same period last year. In Portugal, the reduction was lighter, with profit falling 5%, totaling 362 million euros.
The bank’s financial margin, which is influenced by European Central Bank (ECB) interest rates, fell 11%, totaling 657 million euros, in contrast to 737 million euros in September 2024. CEO João Pedro Oliveira e Costa highlighted that “the financial margin had an impact on the net result”.
The executive also mentioned that interest rates reached a peak of 4.2%, and Euribor is currently below 2%.
The credit portfolio in Portugal grew 8%, reaching 2.3 billion euros, while the volume of deposits increased 9%, totaling 2.6 billion euros. However, due to the decline in margin, banking income decreased by 9%.
With regard to international activity, the contribution of BCI, from Mozambique, was negative, with a result of 15 million euros in losses. On the other hand, Banco de Fomento de Angola (BFA) presented a positive result of 42 million euros, an increase compared to 39 million euros in the previous year. Meanwhile, BPI reduced its stake in BFA to 33%.
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