BPI increases profits by 18% to €286 million

 In Banks, News

In the first nine months of the year BPI saw profits increase by 18% to €286 million, a 7% increase in lending and a 8% in deposits.

BPI CEO, João Pedro Oliveira e Costa said that: “Activity in Portugal had contributed with €159 million towards the results” which was a 25% increase like-for-like on 2021.
BPI also revealed that profits on the bank’s commercial products rose 9% to €614 million, and the financial margin increased 10% to €375 million “supported by a growth in the amount of loans conceded, and which already factor in the increase in interest rates”, states the bank in a communiqué.
Also responsible for the good performance was the growth in bank charges by 7% which brought in €219 million.
“Contributing to this increase was the increase in loans, charges on bank accounts, insurance, investment fund sales, and capitalisation insurance”, states the bank.
The results of the bank led by João Pedro Oliveira e Costa also highlight a 7% increase in loans (€28.9Bn) which enabled the bank to increase its market share by 40 base points in like-for-like terms to the current 11.4%.