BPI Portugal had profits of €6.3 million in Q1 2020, a decline of 87 percent compared to the first quarter of 2019 due to the impact of the covid-19 pandemic crisis. Lockdown measures and fear of recession have let to a steep losses on the financial markets, resulting in a negative impact of 47 million euros in the pre-tax result. Gross income in Portugal increased by €4.5m to €176.5m (+2.6% y-o-y). In addition 57,500 applications have been made for €4.8bn worth of debt, €1.1bn in special COVID-19 credit lines and €2.43 billion in BPI credit lines contracted with companies.
