BPI profit down 68% to €42.6M in H1

  • Lusa
  • 31 July 2020

The Bank ended the first six months with net profits of 42.6 million euros, a significant drop compared to the same period last year as a result of the provisions for the pandemic.

Bank BPI made a profit of 42.6 million euros in the first half, 68% less than in the same period of last year, having registered 83 million euros in impairments, the bank announced on Friday in a statement to the market.

The impairments created between January and June were of a “preventive nature”, according to the bank owned by the Spanish group Caixabank, related to the economic crisis triggered by Covid-19.

In Portugal, profit was 6.5 million euros, down 92.6% on the same period last year.