José Azevedo Pereira appointed CEO of Banco Montepio in bid to improve revenues
Portugal’s ex-director of taxes, José Azevedo Pereira, who was until recently CEO of Eurobic, has been appointed to lead the country’s mutualist bank Montepio.
It means that current CEO, Pedro Leitão, will not lead the cooperative bank for a second term after competing that term at the end of Last year.
Pedro Leitão had been appointed to lead Banco Montepio in 2020 and was repainted in 2022. The bank posted a net profit of €86.4 million in the first nine months of 2025, despite a fall of 10% on 2025 which might lie behind the reason for Leitão not having his term extended in 2026.
In November, the President of Montepio, Virgílio Lima (s
reelected in December) told the Lusa news agency that the bank had the potential to be more profitable and pay out higher dividends to shareholders in the coming years.
“There is still a potential for higher remuneration. There have been no dividends since 2012. Two years ago we had the first dividends, last year too. As the bank also performs better, it is natural that dividends will rise. Given the capital invested, we expect a higher volume of dividends in the near future and in an increasing manner,” he said. In 2024, Banco Montepio paid six million euros in dividends.
SOURCE: ECO
