Banco BIC in Portugal breaks even in September

28 November 2013

Banco BIC in Portugal, which is owned by both Angolan and Portuguese investors, balanced its revenues and expenditure in September a year ahead of projections included in its business plan, the bank’s chairman, Mira Amaral said in Lisbon Wednesday.

“The accumulated result from January to September was negative by 842,000 euros, but in September the bank posted a positive result of 590,000 euros and in October o 1 million euros,” Mira Amaral told Portuguese news agency Lusa, adding “it is likely we will have a marginal positive result in 2013.”

Mira Amaral added that when BIC acquired Banco Português de Negócios (BPN) from the Portuguese state, the bank had a monthly loss of 1 million euros.

After acquiring BPN, Banco BIC in Portugal had deposits of 1.693 billion euros, which since then have increased to 3.493 billion euros.

Banco BIC in Portugal currently has 1300 employees, 197 branches, 11 business offices, and two private banking offices. (macauhub)