Aug 01, 2024 / 02:00PM GMT
Miguel Pinheiro - Banco Comercial Portugues SA - Vice Chairman & CEO, Member of the Supervisory Board
Welcome to BCP's Earnings Conference Call. I will go through the highlights of our performance, followed by Miguel Braganca and Bernardo Collaco, who will provide additional detail. On the first six months net income stood at EUR485 million, an increase of 15% year on year, supported on a strong operational performance with special emphasis to Banco where net income went up 16%, reaching EUR411 million, supported by the strong competitive advantage of our business model and leveraging on BCP's leading position in multiple lines of business.
Still include an environment of soft decreasing interest rates since late 2023, we rigorously manage core income and operational costs, being able to maintain a sound and stable core operating profit of almost EUR1.2 billion for the half year activity at a consolidated level.
In Mozambique, Millennium bim keeps showing a sustained and adequate profit level contributing with stable results for the group's profitability. Net income stood at EUR47
Q2 2024 Banco Comercial Portugues SA Earnings Call Transcript
Aug 01, 2024
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