Four large banks net profits of €4.4Bn

Portugal’s four largest banks enjoyed profits of €4.4Bn in 2025 with Caixa Geral de Depósitos bringing in €1.9Bn – collectively profits were up 5% on 2024.

The increase in profits is driven primarily by the results of Caixa Geral de Depósitos and BCP, which recorded their highest profits ever last year.

Last year (2025) could even be the year with the highest aggregate profits for the major banks, but this will only be known when Novobanco’s results are released.

In the first nine months of 2025, Novobanco’s results stabilised at €610.5 million (in line with the same period in 2024).

In recent years, the Portuguese banking sector has been breaking profit records. When the 2023 results were released, analysts considered that an exceptional peak had been reached and predicted that in 2024 the sector would continue to be highly profitable, but at lower levels, primarily due to the drop in interest rates.

However, 2024 was again a record year, with the aggregate profits of Portuguese banks surpassing those of 2023.

The year 2025, despite the continued context of lower interest rates, could again mean a record for the five main banks, depending on the results of Novobanco.

Source: ECO Online; Credit: Teixeira Duarte.,