BPI posts €365M for 2022

 In Banks, News

BPI bank registered profits of €365 million for 2022, an increase of 19% on 2021.

The bank announced it would pay out dividends of €284 million (almost €100 million more than in 2021) to its Spanish owner Caixabank.
Activity in Portugal resulted in €235 million, up 31% on 2021. The dividend is 65% of the result stated the bank’s CEO João Pedro Oliveira e Costa presenting the results.
Activity at the Angolan bank BFA and Mozambique bank BCI contributed €96 million and €34 million respectively towards the consolidated result.
The results of the business in Africa will also be paid out in Spain although the dividend has yet to be agreed by the shareholders until the general shareholders meeting.
Oliveira e Costa spoke of a “buoyant commercial year” in 2022 which were reflected in the results. The financial margin had gone up 20% to €548 million, benefitting from an increase in interest rates (particularly in the last quarter), but also because of the amount of credit loaned.
On the other hand, the bank has paid back almost all of the ECB and Targeted Long-Term Refinancing Operations (TLTRO), with just €400 million still to be paid off.