The results were driven by the increase in housing credit, especially for young people, with 450 million euros per month granted, and by the 1% increase in commissions charged to customers.
A Caixa Geral de Depósitos profited 1,400 million euros in just nine months. It is the highest value ever for the State bank. Paulo Macedo states that bank profits will vary in the coming years due to the reduction in interest rates.
There are millions and millions of euros. The State bank is the one that makes the most money, and the results prove this. Until September, the Caixa Geral de Depósitos profited 1,400 million euros, the highest value ever and 2% above last year’s result.
Paulo Macedothe leader of Caixa, says that bank profits will start to fall in the coming years due to falling interest rates. But this result already reflects this reduction and is driven by the increase in credit and business.
It also helped to return the Solidarity Additionalby order of the court. Caixa received 29 million euros.
As commissions charged to customers rose 1%and the bank collected 439 million euros.
A financial margin it fell 10%as was already expected due to the decisions of the European Central Bank. AND the difference between the interest the bank pays customers on deposits and the interest it receives on loans.
What also grew was the credit granted to young people to buy their first home. Caixa Geral de Depósitos granted, since January, 450 million euros per month in housing credit.
More than half of this value was allocated under the public guarantee. Due to the increase in demand, the bank has already asked the Ministry of Finance one ceiling reinforcement.
