BPI’s profits grew 43% year-on-year in the first quarter to 121 million euros, the bank announced today.
“The increase in income was due to the increase in net interest income,” said the bank’s chairman, João Pedro Oliveira e Costa, at a press conference in Lisbon.
The bank’s net interest income (the difference between interest charged on loans and interest paid on deposits) grew by 19% to 245 million euros.
The bank’s profits in Portugal alone grew by 52% to 112 million euros.
