Sunday, February 7, 2016

Largest private banks returned to profit in 2015 – TVI24

The three largest private banks operating in Portugal, BCP, BPI and Santander Totta, had retained earnings of 763 million euros in 2015, while the public CGD continued to show losses.

these results mean in aggregate return of the major banks to profit for the first time after five years after between 2011 and 2014 the combined results have always drawn the largest institutions for losses.

the counter positive trend of private banks, who could again be profitable in 2015, was the Caixa Geral de Depósitos, with losses of 171.5 million euros, still better than the loss of € 348 million in 2014.

among the institutions with earnings, Santander Totta stood out with a gain of 291 million euros, 50% more than in 2014. last year was marked by the purchase by the Spanish institution of a significant part of the activity Banif for 150 million euros, for the resolution of Funchal bank.

you BPI registered a consolidated net profit of 236.4 million euros in 2015, compared with losses of 163 6 million euros a year earlier. Banco de Fomento Angola (BFA), the ‘crown jewel’ of the BPI, contributed 135.7 million euros, ie over 50% of the profits.

Similar Profits had the BCP in 2015 with a profit of 235.3 million euros, compared with a loss of 226.6 million euros recorded in 2014 and takes place after four years with the accounts in ‘red’.

at the moment, among the big banks, missing only know the results of the New Bank, owned by the bank resolution fund, which is managed by the Bank of Portugal and consolidating the public accounts.

Until last September, the institution led by Stock da Cunha posted a loss of EUR 551 million but pertaining only to individual accounts. The Bank of Portugal has already anticipated however that the bank must present the annual results 2015 additional losses arising from further losses on assets that were BES.


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