BCP registers losses with property sales of 3 million in the nine months

The bank sold 1.500 properties in the nine months, 500 of which in the quarter. BCP placed 172 million euros in real estate, with a loss of 3 million compared to the net amount of impairments.

Miguel Maya
Miguel A. Lopes / Lusa

Miguel Maya presents in the third quarter accounts a drop in other income from 68,6 million to 20,1 million euros in one year (nine months of 2020 versus nine months of 2019). Mostly due to losses of 143,7 million in other net operating income. Here is included the loss on the sale of real estate.

The bank sold 1.500 properties in the nine months, 500 of which in the quarter. BCP placed 172 million euros in real estate, with a loss of 3 million compared to the net amount of impairments.

BCP reported a loss of 72,3 million in Portugal under other net income, to which a loss of 3 million contributed with the sale of properties received in kind (already includes intermediation fees). Which compares with gains of 22 million in the previous year. The combination of the two totals a negative evolution of 25 million euros.

Net operating income includes mandatory contributions of 149,1 million, and in Portugal only these add up to 70,1 million, 5,1% more than a year earlier.

“Other net operating income includes mandatory contributions of 149,1 million and net income from brokerage commissions on property sales in Portugal of -3,2 million euros, which compares with net operating income that includes mandatory contributions of 133,9 , 21,8 million, and net income from brokerage commissions on property sales in Portugal of +4,7 million, and +XNUMX million mostly on the sale of securities in Mozambique, ”says the bank.

BCP paid almost six million additional solidarity, the new tax on banking.

The banking sector's contributions totaled 29,6 million, to which it adds 15,1 million to the Portuguese Resolution Fund and the 5,9, million additional solidarity.

The results of financial operations fell in the consolidated from 119,1 million to 143,7 million and in the domestic activity they fell from 48 million to 46,8 million.

BCP has not yet concluded the sale of unproductive asset portfolios. The bank has a portfolio of problematic assets "Webb" and "Ellis" in the global amount of 750 million euros.

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