BPI’s profits sink by 63%

BPI has shown a positive consolidated result of 134.5M€ in the first six months of the year. It has also registered a severe break in profits, which is explained by some extraordinary operations that took place at beginning of last year as well as by BFA’s accounting revision.

“In comparison with the same semester of 2018, one must take into consideration that the consolidated results’ evolution (-63%) is due to the extraordinary positive impacts registered in the first six months of 2018 (+118M€, essentially after selling some shares), which hasn’t been repeated in 2019”, the bank led by Pablo Forero refers.

The bank noted that the “net income coming from its banking activity in Portugal reached 86.9M€, corresponding to a nominal reduction of 17% due to impairments of 11M€ in recovery funds and 5M€ of profits in financial operations”.

BPI also revealed that its “total client portfolio increased 336M€ in the first semester of the year”, rising 1.4% to 23.823M€.