BCP’s profits until September amounted to 775.9 million euros in Portugal and other countries, an increase of 8.7% in the first nine months of the year.
The business in Portugal recorded a profit of 654.5 million euros, which reflects an increase of 8%.
The results of international activity dictated growth of 19.8% to €230.7 million, contributing positively to the quarterly results. International results weighed positively on total profits with the financial margin (difference between interest charged on credits and interest paid on deposits) growing 5.8%, while in Portugal the financial margin fell 0.9% from 1003.4 million to 994.7 million euros.
Credit granted in Portugal grew by 7.2% and total resources by 6.3%. In consolidated terms, credit granted amounted to 61.5 billion euros, which reflects an increase of 4.9%.
In Portugal, credit granted amounted to 42.5 billion euros, which represented a growth of 7.2%, with financing for housing growing 9.7% to 20.9 billion euros; and credit granted to companies rose 18.4% to 18.4 billion euros.
Regarding credit growth, Miguel Maya highlights that the support measure for young people between 18 and 35 years old promoted greater demand.
Total resources grew 8.6% to 109.5 billion euros. In Portugal, they amounted to 74 billion euros, which reflected a growth of 6.3%, with emphasis on current deposits, which amounted to 30.1 billion euros. The ROE (return on capital) stood at 14.6%.
The president of BCP, Miguel Maya, highlighted, during the presentation of results, this Wednesday, that “the first nine months of the year were complex, still marked by uncertainty and two wars”, but, even so, BCP achieved positive results.
There is a continued reduction in bad debts in Portugal of 242 million euros – from 1.045 million to 803 million euros.
Commissions increased by 4% in consolidated terms to 628.8 million euros. Portugal received 465.5 million euros in commissions, an increase of 6.3%.
Operating costs rose both in Portugal and in other geographies where BCP is located. In Portugal, costs rose 7.4% to 517 million euros, of which 295.3 million were in personnel costs.
In international activity, cost growth rose 11% to 514.6 million euros, of which 280 million euros were in personnel costs.
With regard to credit impairments, BCP states that “despite the improvement in the credit portfolio’s rich profile, provisions for credit impairment (net of recoveries) increased by 5.7% compared to the 98.3 million euros recognized in the first nine months of 2024, totaling 103.9 million at the end of September 2025, a comparison influenced by the reversal of impairments that occurred in the second quarter of the previous year”.
At the end of his term, Miguel Maya states that “it will not be a problem for the bank” and, when there is a proposal, “it will be presented to the General Shareholders’ Meeting”. And he adds: “It is not a problem to maintain or have staff who can take over the management of the bank.”
Solution for new tax “will not be specifically for the financial system”
Regarding the additional solidarity that was extinguished due to unconstitutionality, the president of BCP states that the issue is not the additional, but rather the taxes that the bank already pays. The bank has already paid 38.7 million euros to the European fund and to the national Resolution Fund (BES) 28.6 million euros have been paid”, which, for Miguel Maya, “is an issue that has been unresolved since the beginning”. And this “are burdens for the banks” and “it is important that this cost is shared by other entities operating in Portugal”.
“We don’t want to have positive discriminatory treatment”, emphasizes Miguel Maya, who considers that contributions to the national Resolution Fund (BES) deserve another treatment.
“My reading of the Minister of Finance’s words is that any solution will not be specifically for the financial system, but for other activities”, says Maya.