In a statement to the Portuguese Securities Market Commission (CMVM), Novo Banco reported that the increase in net profit was “supported by a solid and diversified business model, driven by robust corporate credit and low-risk mortgage franchising, as well as high digital adoption.”
The bank’s net interest margin, which reflects the difference between the interest earned on credits and the interest paid on deposits, fell to 558.8 million euros, compared to 594.9 million euros in the first six months of 2024.
