Banking reduces operating costs by 5.4%

Banking reduces operating costs by 5.4%

Portuguese banks reduced operating costs by 5.4% in the first quarter of the year compared to the same period in 2020.

According to the Portuguese Association of Banks (APB), the sector’s operating costs rose from 1,428 million euros in the first quarter of 2020 to 1,351 million euros this quarter.

The total net income of the sector registered an increase of 90.1%, from 223 million euros in the first three months of 2020 for the same period of 2021.

Source: Jornal i by

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