Montepio profits shoot 154.4 million in 2024
The Montepio Group registered a consolidated net result 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, in the presentation of the consolidated accounts of the Montepio Group in the Assembly of Representatives, which proved them.
« The level of results achieved, with the positive contribution of all companies in the group, for the fourth consecutive year, confirming that the association continues to consolidate its value generation strategy, with the reinforcement of strategic alignment between group companies, » says group president Virgílio Boavista Lima.
The group closed 2024 with 610,181 associates, 5,382 more than the previous year.
The asset grew 3.6%, setting at 21,796.7 million euros, which reflects an increase of 765.5 million euros, compared to 2023.
Equity reached 521.6 million euros, when the previous year had been 392.7 million euros, which corresponds to an increase of 32.8%, or 128.9 million euros.
The financial margin fell 5.7%, however it was “widely offset”, due to positive variations of benefits resulting from associative activities, at 62.2 million euros (7.2%), insurance activity, at 8.7 million euros (3.3%), the result of financial operations, at 28.9 million euros (> 100%), and other results, at 11.0 million euros (21.5%).
