Profit From Agricultural Credit in the First Half of the Year Falls 2.2% to €168.5 Million, with Insurance Results Falling 57%
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In the first six months of the year the consolidated results of the Agricultural Credit fell 2.2%. To this contributed the decrease of the revenue with the interest (financial margin) and increase of the costs with the losses arising from the weather in the first trimester in the country.
The result fell in the first half of the year to EUR 168,5 million, impacted by the reduction in the financial margin and the results of insurance contracts.
Sérgio Frade announced that the bank hopes to launch the migration process for direct supervision of the ECB in 2027, which implies asset quality review exercises and undergo stress tests.
Net commissions increased EUR 6.1 million (+7.8%) to EUR 84.5 million in the first six months of the year.
Agricultural Credit's profit fell by 2.2% in the first half of the year, in similar terms, to EUR 168,5 million, impacted by the reduction in the financial margin and the results of insurance contracts.
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