Banco Montepio shareholders approve dividends of €30.5 million

Banco Montepio shareholders have approved a dividend payout on shares totalling €30.6 million.

The decision was made at the Portuguese mutual bank’s annual general meeting on 22 April and the Portuguese securities market regulator CMVM has been informed.

The bank’s annual results for 2024 were also approved unanimously and included the approval of a legal reserve of €10.2 million.

Banco Montepio had great results in 2024, quadrupling them on 2023 to €109.9 million thanks to a “strong and dynamic commercial performance” and “an improvement in the quality of (its) assets”.

In February, when the bank posted its results, it highlighted the “historic record net results, amount of deposits, solvency and liquidity.

Its bank product had netted €499 million, mainly supported by financial margin and bank charges that topped €384 million and €127.8 million, respectively.

As to operational costs, impairments, and other provisions and taxes which stood at €389 million, the net result was €109.9 million, a like-for-like growth of €81.5 million on 2023.

At the end of 2024, client resources also hit a new record of €14.9Bn, a growth of €1.5Bn. (+11.9%)