Banco Comercial Portugues has reported net income for the first quarter of 2003 at Ђ95.6m, 36.7% up from the last quarter of 2002. Meanwhile operating costs were down by 6.9%, with staff and other administrative costs down by 5.1% and by 8.0%, respectively.
Net commissions amounted to Ђ124m in the first three months of2003, compared to Ђ128.1m in the previous quarter. This aggregate increased by 2% if we exclude the items related to asset management and brokerage are excluded, which were particularly affected by the weak capital markets. Increased fees from leasing, factoring, cards and credit operations boosted those commissions not related to capital markets.
Source: Business Wire
