Banco Comercial Portugues (GB:0RJN) has released an update.
Banco Comercial Português, S.A. reported stable financial results for Bank Millennium with a slight year-on-year decrease in net results for the first half of 2024, despite the implementation of a recovery plan and capital protection strategy. The net result was affected by high provisions for legal risks associated with Swiss franc mortgage loans, while the bank also saw a modest increase in net interest income and a reduction in net fees and commissions. Impaired loans showed a slight improvement, but operating costs rose significantly.
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