The Lisbon-based Banco Espirito Santo, the principal subsidiary of the Espirito Santo Financial Group S.A., today announced its 2001 First Half results. BES recorded a very positive performance in top line figures, with 19.4% growth of net interest income and 18.3% growth of fees and commissions . Net profits were recorded at 106 million
Whilst the bank recorded a deceleration in loans to individuals, this was in part offset by greater demand for corporate credit. In this respect, the bank has highlighted the specialized credit granted: by BESLEASING, with earnings up by 115% in
the first half of the year, and by the factoring company EUROGES, up
by 27%. BES's corporate centers have greatly enhanced their relations
with lower risk SMEs, thanks in part to higher banking concentration
in Portugal.
In consumer loans, CREDIBOM (specialized consumer credit) achieved record results (+58%).
Source: PR Newswire
