The net result is after the absorption of loses of €212 million from an accounting adjustment relating to Bando de Fomento Angola and €77 million in costs of the voluntary redundancy programme that was implemented in June and July, BPI’s chief executive officer , Pablo Forero, said at a news conference.
In terms of the balance sheet, BPI increased deposits by 2.1 percent to €20.141 billion. Total loans, by contrast, were little changed at €23.338 billion; loans to companies in Portugal increased, 5 percent, however, to €6.774 billion .
BPI expressed its condolences to the families of victims of the recent forest fires and announced that a foundation set up by its controlling shareholder, Spain’s CaixaBank, is to give €2 million to them, on top of the €1 million given to the victims of June’s fires in Pedrógão Grande.
CaixaBank took control of BPI in February, paying €645 million to increase its stake to 84.5 percent from the previous 45 percent.