The five main banks operating in Portugal had aggregate profits exceeding five billion euros in 2025, the year in which CGD, BCP and Novo Banco recorded the highest results in their histories.
According to Lusa’s accounts, in total, the five largest banks, which represent more than 80% of the banking system, had total profits of 5,226.5 million euros in 2025, 5.9% more than in 2024.
It is therefore confirmed that the year 2025 was, so far, the year with the highest aggregate profit for the main banks. The increase in profits was driven, above all, by the results of Caixa Geral de Depósitos, but also of BCP and Novo Banco, which recorded the highest profits ever last year.
In recent years, Portuguese banking has been breaking successive 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 remain strongly profitable but at lower levels due, from the beginning, to the fall in interest rates.
But 2024 was once again a year of records, with the aggregate profits of Portuguese banks surpassing those of 2023. Now it is known that 2025 broke a new record.
Caixa Geral de Depósitos (CGD) had profits of 1,904 million euros in 2025, 10% more than in 2024, thanks to the sale of its stake in the company Águas de Portugal (yielding a gain of 188 million euros).
BCP’s profits totaled 1,018.6 million euros (12.4% more compared to 2024) and Novo Banco’s profits amounted to 828.1 million euros (11.2% more).
Santander Totta recorded profits of 963.8 million euros, up 0.5%. BPI saw profits reduce by 13% to 512 million euros.
Banking profits have been supported by the maintenance of important gains in financial margin (a bank’s main revenue, being the difference between interest charged on credits and interest paid on deposits), despite the context of lower interest rates.
The increase in commissions, the reduction or even reversal of impairments (provisions to cover losses), gains from financial operations and the return by the State of the additional solidarity (tax returned to banks after the court considered it unconstitutional) have also helped profits.
As for medium-sized banks, namely Montepio and Crédito Agrícola, 2025 saw a decline in profits.
Banco Montepio had profits of 103.8 million euros in 2025, 5.6% less than in 2024. Crédito Agrícola made profits of 289 million euros, 34% less in annual terms.
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