Portugal’s Big Five banks declare profits of €462 million

Portugal’s top five banks – Santander Totta, BCP, BPI, Montepio and CGD – have declared aggregate profits of €462 million for the first nine months of this year.

For the equivalent period last year, they declared aggregate losses of €30.9 million.

The good news sees Santander Totta responsible for €331.9 million, and CGD still coming in at the rear with losses, but much less of them:€47 million this year as opposed to €189 million in 2016.

Second in the line for best performance was BCP which presented profits of €133.3 million, compared to aggregate losses last September of €251 million.

Then came BPI – this year with a significant dip in profits (€23 million, as opposed to €183 million posted last September), and Montepio (€20 million, improving on last year’s losses of €67 million).

Reporting the figures this morning, Lusa explains that “Novo Banco, one of the largest banks in Portugal and which is still accumulating significant losses, did not come into these figures as it has still not presented its results for (2017’s) third quarter”.

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