Banco Espirito Santo Overseas Ld has published results showing consolidated net profit reaching Euro 222.1m, which corresponds to an increase of 12.3%.
Due to a capital increase and reinforcement of provisions carried out in Q1 2002, return on equity (ROE) decreased to 13.1% in the period. Earnings per share (EPS) declined from Euro 0.99 to Euro 0.74. There is to be a proposed distribution of Euro 0.287 per share (Euro 0.376 in 2002) to the general shareholders meeting.
Good results were also achieved in the area of specialised credit, with Euroges Factoring , increasing profitability by 42% and BES leasing by 26%.
Euroges Factoring provide domestic and international factoring and credit insurance services
Source: Regulatory News Service
