Banco Comercial Português (BCP) Q4 2025 (Media) earnings summary

Executive summary

• Net income reached €1,018.6 million in 2025, up 12.4% year-over-year, with ROE at 14.1% and EPS up 14.3% compared to 2024.

• Portugal net income rose 10.6% to €869.4 million; international operations net income increased 33% to €291.9 million, with Bank Millennium (Poland) up 67.1%.

• Over 7.3 million active customers, with mobile customers up 9% and representing 74% of the base.

Financial highlights

• Net interest income grew 2.4% year-over-year to €2,898.1 million; net fees and commissions up 4.3% to €847.4 million.

• Core income rose 2.8% to €3,745.4 million; operating costs increased 8.3% to €1,415.1 million.

• Loans to customers grew 7.3% to €62.6 billion; customer funds up 8.6% to €111.8 billion.

• Total assets grew 7.0% to €109.3 billion; equity up 10.6% to €9.1 billion.

• Cost of risk at 32bp; NPE ratio improved to 1.7% from 2.5% year-over-year.

Outlook and guidance

• Strategic plan targets business volumes above €190 billion and over 8 million customers by 2028.

• CET1 ratio target above 13.5% and ROE above 13.5% for the 2025-2028 cycle.

• Up to 75% of cumulative net income to be distributed to shareholders, subject to capital and business targets.

• Strategic focus on supporting economic growth, digital transformation, and prudent risk management.