Banco Comercial Portugues

Earnings Release • Oct 24, 2025

24 October 2025

Banco Comercial Português, S.A. informs about Bank Millennium (Poland) results in 9M 2025

Banco Comercial Português, S.A. hereby informs that Bank Millennium in Poland, in which it has a 50.1% holding and whose accounts are fully consolidated at BCP group level, released today its results in 9M 2025.

Detailed information of Bank Millennium results is available on the website of Bank Millennium.

Main highlights of 9M 2025 results of Bank Millennium

In 9M 2025, net income amounted to PLN 855 million (EUR 202.0 million) which compares to PLN 547 million in 9M 2024 (EUR 127.0 million), representing an increase of 56% in local currency.

Bank Millennium results in 9M 2025 continued to be constrained by charges related to the mortgage loan portfolio denominated in CHF, in particular with provisions for CHF legal risk which amounted in 9M 2025 to PLN 1,503 million before taxes (EUR 310.4 million, including EUR 44.7 million related to the portfolio of CHF denominated loans of Eurobank), as well as by the 'banking tax' charge in the amount of PLN 301 million (EUR 71.0 million) in 9M 2025. In 9M 2025, charges related to the mortgage loan portfolio denominated in CHF totalled PLN 1,609 million before taxes (EUR 380.2 million), a 32% reduction compared to the previous year.

Net profit in 9M 2025 without extraordinary items (mostly related to costs related to the mortgage loan portfolio denominated in CHF) increased from PLN 2,297 million (EUR 533.7 million euros) to PLN 2,347 million (EUR 554.4 million), corresponding to a 2% change in local currency.

Operating income and costs

• Net interest income (NII) increased by 7% y-o-y, NIM in 9M 2025 stood at 4.1%.
• Net fees and commissions decreased by 2% y-o-y.
• Operating costs increased 15% y-o-y. Excluding regulatory contributions, related to Banking Guarantee Fund (BFG), operating costs increased 11% y-o-y.
• Core income increased by 6% y-o-y.
• Operating income increased by 8% y-o-y.

Asset quality and liquidity

• Impaired loans (stage 3) ratio stood at 4.2% in 9M 2025 which compares to 4.6% in 9M 2024.
• Cost of Risk stood at 32 b.p. in 9M 2025 which compares to 53 b.p. in 9M 2024.
• Loans to deposits ratio stood at 58.3%.

Capital position

• The CET1 (=T1) capital ratio stood at 14.4% in September 2025 and the total capital ratio at 16.0%. Capital ratios stand above requirements (9.75% and 11.75%, respectively).

Retail business

• More than 3.2 million active Clients, an increase of 136 thousand y-o-y.
• Retail customer funds increased 14% y-o-y.
• Retail loans decreased 5% y-o-y (-3%, excluding CHF denominated mortgage loans).
• Cash loans production in 9M 2025 at PLN 5.4 billion (EUR 1.3 billion euros), stable y-o-y.

Corporate banking business

• Loans to companies increased 12% y-o-y.
• Factoring business volume increased 11% y-o-y.
• Leasing business volume increased 4% y-o-y.

End of announcement Banco Comercial Português, S.A.