Last year up until the end of September, Caixa Geral de Depósitos and Santander Totta did not make high enough profits to offset the losses by BCP and BPI, so there was an overall loss of €58 million, but this year was different with all four making profits.
Caixa Geral de Depósitos (CGD) presented its third quarter profits on Thursday showing it made a profit of €3.4 million in the first nine months, a 93 percent reduction compared with the €46.3 million it made in the same period in 2014.
BCP had the best results by going from a €109.5 million loss in September 2014 to profits of €264.5 million this year, while BPI made a profit of €151 million between January and September compared with a €114.3 million loss last year in the same period.
Finally, Santander Totta’s profits went up from €118.8 million until September last year to €176.7 million this year.
Overall the four banks had profits of €595.6 in the first nine months.
Novo Banco is not included in these accounts as it is not known when it is going to announce its third quarter results.