BPI increased its profits in the first nine months by 14%, up to 444 million euros, announced the bank chaired by João Pedro Oliveira e Costa in a statement released this Thursday. The net result of the activity in Portugal increased by 17%, accounting for the vast majority of the profits (380 million).
In a press conference to present its results, the bank indicated that the financial margin remains “stable”, despite the drop in interest rates in recent months. There was a 7% increase in the financial margin, up to 737 million euros, a positive growth rate although far from the much faster increases in the interest rate growth phase.
The financial margin is, in simple terms, the difference between what the bank charges for the loans it grants and its financing costs (customer deposits, broadly speaking). The stabilization of the financial margin will be related to the fact that the drop in interest rates is slowly reflected in the calculations of the installments paid by clients, which are reviewed only within defined periods (general rule, three, six or 12 months). ).
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João Pedro Oliveira e Costa commented, in a press conference, that “in June 2025 the ECB’s interest rates should be at 2%, but everything depends on inflation and the geopolitical conditions that surround us.”
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Like other competitors in the sector, BPI also increased commission collection by 12%, up to 244 million, which also helped the banking product grow by 11% (the banking product includes commissions, financial margin and other income).
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Source: Observadora
