Portugal · Delayed Price · Currency is EUR Banco Comercial Português Earnings Call Transcripts
Fiscal Year 2026
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Net income rose 12.7% YoY to EUR 565.8 million, driven by strong growth in Portugal and Poland, robust digital transformation, and disciplined cost management. Asset quality improved, capital ratios remain strong, and guidance for NII growth was upgraded to low teens for 2026-2027.
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Net profit rose over 25% year-over-year to EUR 306 million, with strong growth in Portugal and Poland. NII and commissions increased, cost-to-income improved, and capital ratios remain robust. Guidance for NII in Portugal is now high single-digit growth for 2026–2027.
Fiscal Year 2025
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Net income rose 12.4% year-over-year to over EUR 1 billion, with strong growth in Portugal and Poland, robust capital ratios, and a proposed increase in shareholder distributions to up to 90% of annual net income. NII and fees are expected to grow mid to high single digits in 2026.
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Net income rose 8.7% to €776M, with strong loan and customer fund growth in Portugal and Poland. Cost of risk remains low, capital ratios are robust, and digital transformation is accelerating. Outlook calls for mid-single digit growth in NII and loans, with stable cost-to-income.
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Net income rose 3.5% YoY to EUR 502 million, with strong capital ratios and resilient NII despite lower rates. Portugal and Poland drove growth, while Mozambique faced impairments. Guidance for mid-single digit growth in loans and fees is maintained, with a focus on organic expansion.
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Net income grew 3.9% year-on-year, with strong results in Portugal and Poland offsetting Mozambique's decline due to sovereign downgrades. Capital and asset quality remain robust, with guidance reaffirmed for stable NII, mid-single-digit loan growth, and cost discipline.
Fiscal Year 2024
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Net income rose 5.9% to over EUR 906 million, with strong growth in Portugal and Poland offsetting challenges in Mozambique. Capital ratios remain robust, a EUR 200 million share buyback is underway, and 2025 guidance points to resilient profits and mid-single-digit growth in deposits and commissions.
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Net income rose 9.7% year-over-year to EUR 714 million, with strong capital ratios and digital growth. The 2025-2028 plan targets ROE above 13.5%, cumulative net income of EUR 4-4.5 billion, and up to 75% shareholder payout, supported by robust business and risk management.
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Net income rose 15% year-over-year to EUR 485 million, with strong growth in Portugal and resilient results in Poland and Mozambique. CET1 ratio reached 16.2%, cost to income remained at 35%, and digital transformation drove customer engagement. Dividend payout for 2024 will be at least 50%.