Novo Bank profits at €610 million

Novobanco closed the first nine months of the year with net profits of €610 million, up €100 million on the same period in 2024.

But the bank’s financial margins shrank by 6.5% to €829 million, down €57.3 million in 2024 while bank services increased by 1% to €1.1Bn.

The bank says that the fall in the financial margin on the one hand reflected “a 4.8% increase in the average price of loans to clients and, on the other hand an assertive cover strategy that compensated for the fall in the 6 month Euribor average of 154 base points on the same period in 2024, resulting in a financial margin rate of 2.67%.

Commercial bank product fell 2.8%, standing at €1.1Bn while bank charges grew 10.7%, to €266.1 million.

The cost-to-income ratio climbed 33.2% to 35.1%, excluding extraordinary costs such as the privatization process representing 33,7%.

“The results of the first nine months of 2025 reinforce the robustness of our business model and keeps us aligned with the goals established for the year. We continue to carry out our strategic plan with discipline, supporting families and Portuguese companies”, said the bank’s CEO, Mark Bourke, quoted in a communiqué sent to the Portuguese securities regulator CMVM.

SOURCE: Negócios