Montepio profits soar to €154.4 million in 2024

The Montepio Group recorded a consolidated net profit of 154.4 million euros at the end of 2024, which represents a growth of 61.8 million euros (66.8%).

The figures were revealed this Friday, during the presentation of the Montepio Group's consolidated accounts at the Assembly of Representatives, which approved them.

“The level of results achieved, with the positive contribution of all the Group's companies, for the fourth consecutive year, confirms that the Association continues to consolidate its value generation strategy, with the reinforcement of the strategic alignment between the group's companies”, considers the group's president, Virgílio Boavista Lima.

The group closed 2024 with 610,181 members, 5,382 more than the previous year.

Assets grew by 3.6%, reaching 21,796.7 million euros, which represents an increase of 765.5 million euros compared to 2023.

Equity reached 521.6 million euros, when in the previous year it had been 392.7 million euros, which corresponds to an increase of 32.8%, or 128.9 million euros.

The financial margin fell by 5.7%, however it was “largely offset” by the positive variations in income resulting from associative activities, by 62.2 million euros (7.2%), from insurance activity, by 8.7 million euros (3.3%), from the result of financial operations, by 28.9 million euros (>100%), and from other results, by 11.0 million euros (21.5%).