NPL&REO News

BPI’s earnings in Q3 fell by 52%

Portuguese BPI Bank, owned by the Spanish Caixa Bank, recorded €253.6 million profits in the first nine months of this year represents a decrease of 52% from the €529.1 million achieved in the same period of 2018.

In the presentation of the results, it can be read that «compared to the same period of 2018, the evolution of the consolidated profit (-52%) is strongly influenced by the extraordinary positive impacts registered in September 2018 (+€160 million, mainly gains on the sale of shareholdings) in the activity in Portugal which were not repeated in 2019».

BPI’s also ended the Q3 with 29 fewer workers and 14 fewer branches compared to the same period last year.However, the bank mentions that in September of this year it had «in Portugal 31 ‘premier’ centres, one mobile branch and 34 business centres, making a total of 479 commercial units». In September 2019, the BPI had 4,869 employees, while in September last year it had 4,898.

Original Story: Macau News Agency | Lusa
Photo: Facebook BPI
Edition: Prime Yield

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