BPI with profits 365 million in 2022. It will pay a dividend of 285 million

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BPI posted profits of 365 million euros in 2022, a 19% increase over the previous yearAnd it announced that it intends to pay dividends of 284 million euros (almost 100 million more than last year) to its Spanish ownerCaixabank.

The activity in Portugal gave 235 million, 31% more compared to 2021. From here the proposed dividend is 65% of the result, detailed the CEO João Pedro Oliveira e Costa in the presentation of results. The stakes in Angola’s BFA and Mozambique’s BCI contributed 96 million euros and 34 million euros, respectively, to the consolidated results. The results of the African businesses all go to Spain. The dividend proposal is still to be taken to the general meeting of shareholders.

Oliveira e Costa speaks of good “commercial dynamism” last year and the operation’s numbers demonstrate it. The financial margin shot up 20% to 548 million euros, benefiting from the rise in interest rates (especially in the last quarter), but also from the volumes of credit granted. On the other hand, it has already repaid almost all the TLTRO loans to the ECB, with 400 million remaining to be repaid by June.

Commissions rose 3% to 296 million, due to the “greater penetration of package accounts, which have several associated services”, according to the CEO. With this, the banking product reached 873 million, up 14% year-on-year.

BPI says it has gained market share in the credit market (11.5%), despite the reversal of the upward trend recorded in the second half of the year. Oliveira e Costa said that 2023 started “following the same line”: “We are seeing a slowdown in demand and implementation of credit. In January is normal, but continues to slow compared to the same period last year”.

The loan portfolio increased 6% to 29.2 million euros, with the housing segment rising 8% to 14.2 billion.

In deposits, customers have 30.3 billion euros deposited in the bank, an increase of 5%. The bank promises to raise deposit interest rates “soon. Total resources reach 40 billion.

“No interest in foreclosing homes”

About the processes of renegotiation of contracts of the house, Oliveira e Costa expects that the situation will “sharpen” for families. So far 2,000 clients have contacted the bank to lower their mortgage payments under the new rules. Of these, 500 have already had their renegotiation processes closed with the bank. The solutions usually involve an extension of the contract term or a grace period for capital and/or interest.

“The bank has no interest at all in foreclosing on the houses,” the manager said, assuring that the bank is prepared for an increase in demand for applications and a possible increase in the level of defaults.

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