The Caixa Económica Montepio Geral recorded a net profit of EUR 9.8 million in the first quarter of this year, representing a decrease of 72.5% compared to 35.5 million in the same period last year.
Banking income was 183 million, down from 308 million in the first quarter of 2014, a variation that institution explained “by the lower contribution of trading income” and by lower net interest income. Already the amount of provisions and impairment (potential losses) was 81.4 million (less 52%). The prominent financial institution in the period under review, there was “a reinforcement of solvency, cost containment and sharp reduction in the cost of risk”.
In terms of customer deposits, they rose 2.7% within one year, to 14,288 million. The gross loans remained almost unchanged at 16,515 million. At this time, the transformation ratio of deposits / loans is currently in 105.8%.
In Angola, where the Montepio is associated with local partners and which kept the Finibanco brand, deposits rose 32% to 525 million, and loans granted increased by 41% to 336 million euros. The operation in Angola came upon contribution to the results for the quarter, to report a profit of EUR 1.9 million (almost half the value of the first three months of 2014). Montepio is still present in Mozambique, through the Land Bank (a recent bet that generated a loss of 745 thousand euros).
No comments:
Post a Comment