Banco Finantia doubled profits to €25.3 million

Banco Finantia almost doubled its profits last year to €25.3 million it announced on Thursday.

The shareholders agreed at its general assembly to award a dividend of €18 million or 12 cents per share, corresponding to 71% of the result.

Banco Finantia is a global, independent bank specialising in private banking and corporate & investment banking with operations across the Iberian Peninsula, Latin America, and Eastern Europe, with a presence in countries like Portugal, Spain, the UK, and the USA.

While the bank’s financial margin has stabilised at €46.3 million, the bank posted an increase of 60% in terms of bank product to €65.5 million, “with an improvement in financial operations results and an absence of periodic adjustments seen the previous year related to its strategy to reduce Non-Performing Loans.

Impairments and provisions stood at €3.2 million, down €1 million on 2023. The NPL ratio fell to 1.2% in 2024.

Total assets were up 13% to €2.48Bn while its securities and loans portfolio was up 15% to €2.2Bn.

Deposits increased 19% to €1.07Bn “reflecting growth in the bank’s private activity”.

The bank’s main shareholder is Finantipar holding almost 40% while four other shareholders hold above 5%: Arendelle S.A., Natixis (France), and Erste Abwicklingsanstalt (Germany).