LISBON: Banco Comercial Português had a first-quarter net profit of 46.7 million, 33.7% less than in the same period of last year, the Portuguese bank announced on Monday, but its chairman, Nuno Amado, highlighted the “positive development” of profitability excluding non-recurring items.
Millennium BCP quarterly profits down 34% on year.”In recurring terms, the variation is very positive,” Amado said at a news conference in Lisbon to announce the results for the quarter. “This year there was no extraordinary result related to public debt.” He added: “In terms of profitability and efficiency we have a clear boost to the bank’s profits, without extraordinary items, despite the difficult external [economic and banking] backdrop.”
In the first quarter of 2015, BCP has a net profit of €115.8 million. Earlier on Monday, Banco Santander Totta, the local unit of Banco Santander of Spain, unveiled first-quarter results that showed a net profit of €114.5 million – twice the amount of the same quarter a year earlier. Of that, about €3 million came from its new unit Banif, company officials said.
