The CTT attributed recent financial improvement to the “positive performance of the financial margin,” which saw an increase of 4.6%, and the commissions received, which rose by 18%.
In a presentation released today, CTT reported that the bank’s pre-tax profits stood at 5.1 million euros, maintaining a similar value to the same period last year.
By the end of the first quarter, the number of checking accounts reached “688,000 (an increase of 6,000 compared to December 2024),” the company noted.
Business volumes reached 7.08 billion euros, up 14.4%, largely driven by the “continued growth of deposits, which amounted to 4.0025 billion euros in the first quarter,” marking an increase of 15.3%.
There was also an acceleration in mortgage lending, which, net of impairments, reached 851.5 million euros, an increase of 15.6%, while car loans grew by 8.3%, totaling 949.5 million euros.
The statement indicated that “interest received from mortgage lending totaled 7.3 million euros in the quarter,” reflecting a 6.7% decline, “mainly due to the movement of Euribor rates” since the first half of 2023.
Meanwhile, the operational income from financial services reached 12.5 million euros, more than doubling compared to the same period last year, driven primarily by the “solid performance of public debt securities.”
