The Montepio Group announced that its positive results were driven by the contributions of all its companies. The group’s operating revenues totaled 1,827.7 million euros by the end of 2024, marking an increase of 79.4 million euros (4.5%) compared to 2023. This growth is largely attributed to positive variations in revenues from associative activities, which increased by 62.2 million euros (7.2%), the insurance sector, which rose by 8.7 million euros (3.3%), financial operations, which gained 28.9 million euros, and other results amounting to 11 million euros. These gains offset a decrease in the financial margin by 26.3 million euros (-5.7%) amid a context of reduced interest rates.
By the end of 2024, the group’s operating expenses reached 415.8 million euros, reflecting an increase of 45.9 million euros (12.4%) compared to the previous year, according to the entity. The MGAM closed the year with 610,181 members, up from 604,799 at the end of 2023, an increase of 5,382 members.
The assets stood at 21,796.7 million euros by the year’s end, an increase of 765.5 million euros (3.6%) compared to the end of 2023, while the group’s liabilities amounted to 21,275.1 million euros, marking a rise of 636.5 million euros (3.1%) from 2023.
The group highlighted that during 2024, it ensured the development of key projects such as the revision of the MGAM’s benefits and lease regulations to meet both current and future needs of existing and potential members. This involved developing new offerings and reviewing current mutualistic products, alongside implementing strategic plans and enhancing innovation and digital transformation initiatives across the group’s companies, aimed at members and clients.
