The bank says that the rise is related to the “extraordinary charge” of 164.5 million euros recorded in the first quarter of last year, related to the plan related to workers leaving. A non-recurring cost that does not occur this year.

In a note, the CEO, Pedro Castro e Almeida, says that “the granting of credit remained stable” throughout this year and that the resources “registered a slight growth, driven by deposits”.

“We follow the current situation closely and we have a solid, close structure and appropriate mechanisms to manage the impacts of global economic uncertainty, and with a particular concern for our employees, having already launched a set of support measures this month in order to mitigate the impacts of inflation on the loss of disposable income of their households”, adds the manager.