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Portuguese banks are poised to announce record profits for the year 2023.
Portuguese banks are poised to announce record profits for the year 2023, surpassing figures from the previous year, according to preliminary estimates from Negócios. Favorable economic conditions, including high interest rates, have contributed to the expected exceptional results. Major banks, including Santander, Caixa Geral de Depósitos, Novo Banco, BPI, and Millennium bcp, are forecasted to report significant profits based on their performance in the first nine months of the year. Portugal's economic growth has also added to the favorable context for the remarkable performance of the banking sector.
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