BCP posts €565.5 million first-half profit
Portugal’s largest private bank reported a 12.7% rise in first-half profit, extending the momentum after its record 2025 result.
BCP, Portugal’s largest private bank, posted a net profit of €565.5 million in the first half of 2026, up 12.7% from a year earlier, extending the momentum that followed its record annual result in 2025. The figures suggest the bank remains on track to sustain strong earnings in a still uncertain international environment.
Chief executive Miguel Maya said net interest income improved, but the stronger contribution came from fees, which rose 5.8%, outpacing costs. Speaking at a press conference, Maya said the increase in fee income “did not come from pricing, but from a major increase in activity” and greater use of services by clients.
Core income rose 4%, while costs increased 5.4%. Net profit was also supported by a reduction in provisions and impairments compared with the first half of 2025, notably a €136 million drop in legal risk provisions linked to Swiss franc mortgage loans granted by BCP’s Polish bank.
On a consolidated basis, customer loans grew 8.3% and customer funds increased 9.8%. Even so, the loan-to-deposit ratio remained below 70%, with Maya saying he would like to see more of those resources converted into lending. While declining to give guidance for the rest of the year, the CEO said these were the bank’s best ever half-year results and that BCP was confident of meeting its strategic plan, with some targets already ahead of schedule.
Originally published at Eco.pt
