BPI Macau profits MOP722.2 mln

The Macau offshore branch of Portuguese bank BPI recorded a 66.8 million euro (722.2 million patacas) profit for the whole of 2013.
BPI announced its annual results for last year yesterday, saying that the profit registered comes at an ‘exceptionally hard time, which the banking industry has been faced with since 2008’ given the financial crisis, volume of unusual impairments, and lower than average interest rate.
In addition, total deposits were up by 3.2 percent in 2013 from that of a year ago to 21.8 billion patacas. Operating costs of the branch here totalled 2.9 billion patacas, an increase of 12.9 percent.
Total assets reached 21.99 billion patacas in 2013, up 9.7 percent from that of a year prior.
Over the course of the last three years, BPI has been one of the few Portuguese banks capable of weathering the storm of the financial crisis and post a profit.