Lisbon, Aug. 5, 2026 (Lusa) - Banco Montepio posted profits of €58.4 million in the first half of the year, down 17.3% on the first six months of 2025, the bank said in a statement on Wednesday.
Regarding the decline in profits, the bank explains that in 2025, the result benefited from extraordinary factors, including the reversal of loan impairment charges and lower taxes.
«Excluding these extraordinary effects, Banco Montepio's operational and recurring performance continued on a positive trajectory, supported by growth in commercial activity, the positive performance of banking income and the maintenance of high levels of asset quality,» the statement reads.
Up to June, net interest income (the difference between interest charged on loans and interest paid on deposits) rose by 2.7% to €171.6 million, whilst fee and commission income grew by 5.1% to €69.1 million.
Operating costs rose by 2.4% to €146.4 million, mainly due to staff costs (up 2.7% to €82 million) At the end of June, the Banco Montepio group had 3,045 employees, 46 fewer than a year earlier. The bank had 222 branches, up by two.
Impairment charges and provisions totalled €5.2 million, compared with a net reversal of €2.6 million in the same period last year. According to the bank, following the extraordinary reversals in 2025, these impairments and provisions are in line with the «trend towards normalisation of the cost of risk, whilst maintaining the quality of the loan portfolio and coverage levels at solid levels».
Loan impairment losses amounted to €1.0 million, compared with a reversal of €8.0 million in the first half of 2025.
Between January and June, the bank paid €24 million in tax, compared with €14.5 million in the same period of 2025.
On the balance sheet, gross lending grew by 5.6% to €13.744 million, and deposits rose by 3.1% to €16.563 billion.
Banco Montepio, which is owned by Associação Mutualista Montepio Geral, has been led by José Azevedo Pereira since May. The bank does not hold a press conference to present its half-yearly results.
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