BPI posts Q1 profit of €85M, up 75% YoY, as Portugal profit doubles
In the bank's operation in Portugal alone its profit more than doubled to €73 million.
Portuguese bank BPI had a consolidated net profit of €85 million in the first quarter, up 75% from the same period of last year, it said in a statement on Friday.
The bank’s financial margin – the difference between the interest charged on credit and the interest paid on deposits – in the period was up 82% at €203 million.
At a news conference to present the results in Lisbon, the bank’s CEO, João Pedro Oliveira e Costa, said that the quarter “confirms that BPI is strong” and that it “is prepared for the challenges.”
In the bank’s operation in Portugal alone its profit more than doubled to €73 million.
