The General Assembly of Montepio Geral – Associação Mutualista (MGAM) has approved the 2024 financial statements. This achievement was driven by a notable increase in associative activity, with an addition of 5,382 new members in 2024, reaching a total of 610,181 members.
The associative margin was reported at 154.9 million euros, benefiting from a 7.2% rise in associative revenues, which amounted to 931.7 million euros.
Furthermore, contributions came from the Montepio Group companies, which have reported significant positive results for the fourth consecutive year. These companies have increased their market value and distributed dividends, thereby enhancing MGAM’s overall results.
Thanks to this performance, the mutual association strengthened its equity, which amounted to 703 million euros, surpassing the 488.3 million euros recorded in 2023. Additionally, there was an improvement in liquidity indicators and responsibility coverage ratios.
