Banco Comercial Portugues SA (OTCPK:BPCGF)

Q1 2026 Banco Comercial Portugues SA Earnings Call Transcript

May 7, 2026 / 09:00 AM GMT

Transcript

Key Points

Positve

Banco Comercial Portugues SA (BPCGY) reported a strong net profit growth of over 25% year-on-year, reaching EUR 306 million, with a return on equity of nearly 16%.
The bank's international operations saw a significant 65% increase in net profit, driven by strong performance in Poland, where net profit rose by 68%.
The bank achieved a solid balance sheet with a common equity tier 1 ratio of 15.1% and total capital ratio of 19.3%, even after accounting for a share buyback.
Customer loans and funds grew by over 7% and nearly 8% respectively, indicating strong customer engagement and trust.
The bank's mobile customer base continues to expand, growing at 8% per year, which now accounts for 75% of the group's customer base.

Negative

The global context remains challenging with geopolitical tensions affecting international trade and energy costs, impacting economic growth.
In Mozambique, profitability is heavily affected by sovereign rating impacts, although the bank maintains a robust capital position.
Operating costs increased by 4.5%, driven by investments in IT and other administrative costs, which could pressure margins if not managed effectively.
The bank's cost of risk remains stable but could be impacted by ongoing geopolitical tensions and economic uncertainties.
There is a potential risk of further interest rate reductions in Poland, which could affect net interest income despite current hedging strategies.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BCP.LS - Banco Comercial Portugues SA
Q1 2026 Banco Comercial Portugues SA Earnings Call
May 07, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Millennium BCP First Quarter 2026 Earnings Conference Call.

At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 1 and 1 again. Please be advised, today's conference is being recorded.

We'd now like to hand the conference over to your speaker today, Mr. Miguel Meyer. Please go ahead.

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