Montepio profits Mutalist Association trigger 87.5%
Montepio Mutualist Association registered profits of 210 million euros in 2024. The amount represents an increase of 87.5% compared to the result obtained in the previous year.
In a statement issued Monday, the entity stresses that the result was supported by the “significant increase in associative activity, based on the increase of 5,382 associates in the year 2024, to 610.181”.
The note, which reports the approval of the 2024 accounts and accounts by the Montepio General Assembly of Representatives-Mutualist Association (MGAM) also reveals that “the associative margin was set at 154.9 million euros, benefiting from the increase in associative revenues by 7.2%to 931.7 million euros”.
The statement adds to this evolution to the Montepio Group companies that, “by presenting significant positive results for the fourth consecutive year, they remained their market value again and distributing dividends, thus contributing to the addition of the results of MGAM”.
With this performance, the mutualist indicates that it was possible to reinforce their own capital, which set up at 703 million euros, above 488.3 million euros verified by 2023, as well as an improvement in liquidity and responsibility coverage indicators.
« The association continues to evolve on the right track, being working to develop a wider value proposition and reinforcing the strategic alignment between the group companies, » said the president of Montepio Geral – Mutualist Association, Virgílio Boavista Lima, on the results.
