Banco Montepio posted a consolidated net result of 23.9 million euros in the first nine months of the year, which represents a favorable evolution compared to losses of 14.2 million euros in the same period of 2021.
According to information communicated to the Securities Market Commission (CMVM), the bank points to the increase in net interest income and commissions, the reduction in operating expenses by EUR 16.1 million and the lower impairment charges and provisions by 45.1 million euros.
“Despite the increases in mandatory contributions related to the banking sector, the resolution fund and the deposit guarantee fund totaling EUR 3.2 million,” the banking entity added in a statement released today.
The consolidated net results for the first nine months of 2022 include, in the third quarter, “an estimated impact of -22.7 MEuro (after consideration of minority interests) from the agreement signed for the sale of the financial participation held by the Banco Montepio Group at Finibanco Angola SA”.
Still, he adds, “the consolidated net results for the quarter were positive, confirming the favorable trend seen in the last five quarters.”
In the note, Montepio also highlights the five consecutive quarters of positive net results and the increase in “core banking income” of 7.5 MEuro, compared to the value of the first nine months of 2021, with net interest income increasing by 1%. grow and commissions 7%.
Loans to customers (net of impairments) rose to 11.8 billion euros, 1.5% above the value recorded in December last year.
Customer deposits amounted to 12.9 billion euros, a positive variation of 1.8% compared to the end of 2021.
In the statement released today, Montepio also says the cost of credit risk was 0.1%, compared to 0.6% in the same period last year.
With regard to the operational adjustment, the bank points to a decrease in operating costs of 16.1 MEuro (-8.5%), as a result of the decrease in personnel costs, general administrative costs and depreciation.
It also refers to the closure of nine branches compared to the same period in 2021 and the Banco Montepio Group’s workforce at 138 (-3.8%) compared to September 30, 2021.
Source: DN
