BNU Macau contributes €68.7 million to consolidated net result of Caixa Geral de Depósitos in 2019

3 February 2020

BNU Macau was the main contributor of the international business area for the consolidated net result of Caixa Geral de Depósitos (CGD) in 2019, with €68.7 million euros, according to information disclosed in Lisbon by the Portuguese state bank.

CGD also said that after BNU Macau came BCI Mozambique, with €34.8 million and the branch in France with €20.4 million.

The global product of international activity grew by 5.1% compared to 2018, and the components that contributed to this growth compared with the same period of the previous year were the financial margin, which rose 2.8% or €11.0 million and results in financial operations, with growth of 39.9% or €15.4 million.

The Portuguese state sank also said that in the international business area in 2019 it concluded the sales of Banco Caixa Geral (Spain) and Mercantile (South Africa).

Consolidated net profits for 2019 reached €776 million (+€280 million compared with 2018) and the consolidated net result was €632 million (+€136 million compared with 2018, +27%).

The bank also noted an extraordinary result of €144 million related to the sale of international subsidiaries and was mostly due to the reversal of impairment recorded in 2017. (macauhub)