After a long period of losses, the Portuguese bank is recovering. Montepio saw its profits reach €22.4 in September, 10% more than the same period last year.
Portugal’s bank Montepio saw profit amount to €22.4 million until September this year, 10% more than the same period last year, according to a statement released by the bank on Wednesday.
The bank ended the first nine months of 2018 with €2 million more in profit compared to the same period last year, the bank said.
According to the statement, in the first nine months of the year, its financial margin rose to €189.3 million, 6.3% more than in the same period in 2017.
The profits come after a long period of losses following the debt crisis that saw the collapse of two Portuguese lenders.