BCP passes from injury to profits of 240.7 million in the half – publico

                 

                         
                     

                         
                     

                 

 
                         

The net income of Millennium bcp amounted to 240.7 million euros in the first half, compared with a loss of 62.2 million euros in the same period last year, said on Monday the institution led by Nuno loved.

                     

                          The reported value is well above the average estimate of analysts contacted by Reuters, which was by 150 million euros.

In a statement sent to Furniture Securities Market Commission (CMVM) the bank said that the increase was sustained results in the recovery of activity in Portugal and increased contribution from international operations.

The evolution of the result was determined, “on the one hand, the increase of 62, 6% of the result core Gross (corresponding to the aggregate of net interest income and net commissions minus operating costs) compared to the first half of 2014, reflecting the increase of 26.6% recorded in net interest income and, on the other, by gains from financial operations related to the sale of Portuguese government bonds, “the statement said.

According to the bank, net income in Portugal shows an improvement of 248.5 million euros, benefiting from the increases recorded in net trading income and net interest income, together with the reduction in operating costs.

With regard to international operations, excluding discontinued or discontinuing operations, net income recorded a increase of 6.2% over the figure for the first half of 2014, driven mainly by higher net interest income and net trading income in Angola and Mozambique.

Customer deposits reached 50,600 million euros, up 4.4%, with total customer funds to situate in 65.7 billion euros, 2.8% more than in the first half of last year.

In terms of capital ratios, the bank showed the ratio common equity tier one 13.1%, compared with 12.5% ​​in the same period previous year, benefiting from the improved recurring profitability, the sale of 15.4% of Bank Millennium (Poland) and the impact of public operation is complete exchange in June.

At the press conference after the announcement results, the president of BCP admitted that the second half of the year will not be more difficult than the first, especially because of Greece and legislative elections.

“We, bank and country, we go a correction path of some structural imbalances that had. It is a difficult path and in the second half we have challenges that have to do with the work we have been doing, towards sustainability and recovery of profitability in a very strong competitive environment, “said the manager, quoted by Lusa.

“It was not an easy half, it was a difficult first half, and it will be difficult one second half, but the BCP is doing the way you have to do,” stressed the president of BCP, which on the draft merger with BPI said that “there is no evolution.”