Banco Comercial Portugues S.a. · EURONEXT:BCP
Banco Comercial Portugues — Q3 2025 Earnings Presentation
60 slides from Banco Comercial Portugues's earnings presentation, Oct 30, 2025
Slide 1: Banco Comercial Português, S.A.
| Portugués, S.A.
Slide 2: Disclaimer
Disclaimer l The information in this presentation has been prepared under the scope of the International Financial Reporting Standards (‘IFRS’) of BCP Group for the purposes of the preparation of the consolidated financial statements under Regulation (CE) 1606/2002, as amended. l The figures present
Slide 3: Agenda
AGENDA 3
Slide 4: Highlights
01 Highlights 4
Slide 5: A Solid and Efficient Bank
A Solid and Efficient Bank ▪ In 9M25, the Group's net income amounted to €775.9 million, reflecting an increase of 8.7% compared to the same period of the previous year. This performance resulted in a ROE of 14.6% in September 2025 ▪ Net income in Portugal increased by 8.0% from 606 million in 9M24,
Slide 6: Customer base growth
Customer base growth Based on the quality of the Teams and distinctive digital skills Group ‘000 Customers Customer Active 6,919 7,215 Recognition +437 As % of active 5,323 Customers +9% 4,886 74% Mobile Sep 24 Sep 25 +385 Digital 5,401 5,787 80% +7% Portugal ‘000 Customers Active 2,763 2,857 +163 A
Slide 7: Innovation focused on Customer needs translates into accelerated growth in Mobile usage and sales
Innovation focused on Customer needs translates into accelerated growth in Mobile usage and sales Strong mobile growth Y/Y (Number of operations, Jan-Sep 2025 vs Jan–Sep 2024) In Mortgages… +14% +17% National +61% Account 78% Mortgage Approval Transactions1 Transfers (#) Opening (#) Letters digitall
Slide 8: Net income of 775.9 million in 9M25
Net income of 775.9 million in 9M25 (Million euros) 9M24 9M25 % D Net interest income 2,110.8 2,166.6 +2.6% +55.8 Commissions 604.6 628.8 +4.0% +24.1 Core income 2,715.4 2,795.4 +2.9% +80.0 Operating costs -945.7 -1,032.5 +9.2% -86.8 Core operating profit 1,769.7 1,762.9 -0.4% -6.8 Other income -24.
Slide 9: Delivering shareholder value
Delivering shareholder value ROE BVPS + DPS 1 14.6% +17.2% ore ROTE EPS value 15.2% +11.5% 2 Return on Equity (RoE) | Return on Tangible Equity (RoTE) | Book value per share (BVPS) | Dividend per share (DPS) | 1 Considering the evolution of the book value per share from September 2024 to September 2
Slide 10: Group Profitability
02 Group Profitability 10
Slide 11: Net interest income
Net interest income Group Portugal (Consolidated, million euros) (Million euros) Net interest 2.24% 2.10% Net interest margin margin 3.05% 2.92% -0.9% +2.6% 2,166.6 1,003.4 994.7 2,110.8 9M24 9M25 International operations (Million euros) Net interest 4.55% 4.37% margin +5.8% 1,107.3 1,171.9 9M24 9M2
Slide 12: Fees and commissions
Comissões Fees and commissions Group Portugal (Consolidated, million euros) (Million euros) +4.0% +6.3% 628.8 465.5 604.6 437.7 Market-related 70.3 77.5 103.4 fees and 90.0 commissions 367.4 388.0 9M24 9M25 International operations (Million euros) Banking fees 525.4 -2.2% 514.7 166.9 and commissions
Slide 13: Other operating income
Outros proveitos Other operating income Group Portugal (Consolidated, million euros) (Million euros) 41.1 41.4 29.5 40.3 40.2 28.4 10.8 45.4 -27.7 -9.6 -24.1 9M24 9M25 Mandatory Equity earnings + dividends 44.6 contributions 40.1 20.4 80.7 Of which: Banking sector 27.9 28.6 Resolution Fund PT 6.5 39
Slide 14: Operating costs
Operating costs Group Portugal (Consolidated, million euros) (Million euros) Cost to income 33% 34% Cost to income 35% 37% +7.4% 482.3 517.9 +9.2% 1,032.5 54.8 61.0 945.7 150.0 161.6 115.5 +6.4% Depreciation 107.3 277.5 295.3 341.6 9M24 9M25 Other 315.7 administrative costs International operations
Slide 15: Cost of risk and provisions
Cost of risk and provisions Group Portugal (Consolidated, million euros) (Million euros) Cost of risk 33bp1 33bp Cost of risk 38bp1 31bp -30.2% 163.6 -6.7% 114.1 627.4 65.2 585.2 10.2 98.3 103.9 CHF mortgage legal -10.7% 9M24 9M25 risk (Poland)2 347.6 Loan-loss -15.8% 310.4 reserves 910 767 Internat
Slide 16: Continued decrease of NPEs
Continued decrease of NPEs Group Portugal (Consolidated, billion euros) (Billion euros) -242 million -332 million -23.2% 1.045 -17.2% 0.803 NPE 1.93 1.60 NPE 1.11 0.80 Set 24 Set 25 NPL>90d 0.83 0.81 NPE loans ratio 2.6% 1.9% Set 24 Set 25 NPE ratio (EBA) 1.8% 1.4% Sep 24 Sep 25 (Total impairment +
Slide 17: Group Business activity
02 Group Business activity 17
Slide 18: Customer funds
Customer funds Group Portugal (Consolidated, billion euros) (Billion euros) +6.3% +8.6% 69.6 74.0 109.5 14.8 16.4 100.8 1.3 1.5 19.7 26.0 26.0 Off-BS funds 17.3 1.5 27.5 30.1 Other BS funds 1.3 Sep 24 Sep 25 37.4 Term deposits 36.0 International operations (Billlion euros) +7.5% +13.8% 31.3 35.6 3.3
Slide 19: Loan portfolio
Loan portfolio Group Portugal (Consolidated, billion euros) (Billion euros) +2.85 billion NPE: -17.2% (-0.332 billion) +7.2% 39.73 42.58 +3.10 +4.9% 61.5 -0.24 58.6 29.6 Sep 24 NPE Performing Sep 25 Mortgage 28.6 International operations (Billlion euros) 7.7 Personal 7.4 18.92 +0.89 18.92 -0.89 Comp
Slide 20: Group Capital and liquidity
02 Group Capital and liquidity 20
Slide 21: Solid capital ratios
Solid capital ratios Common equity tier 1 (CET1)1 (Fully implemented) Fully implemented vs requirement +6.0pp 16.5% 15.9% • CET1 stood at 15.9% and total capital ratio +10.1pp 9.89% at 19.9% incorporating the effects resulting 4.13% Combined buffer from CRR33 reserve 2 1.27% Pillar 2 (P2R) 4.5% Pill
Slide 22: Stronger capital position
Stronger capital position Leverage ratio (Fully implemented, latest available data) 6.9% 6.2% 5.4% 5.5% 3.8% Leverage ratio of 6.2% as of September 2025 3.0% FR DE ES IT RWA density (RWAs as a % of assets, latest available data) 38% 39% RWAs density in very conservative values (39% as 34% of Septemb
Slide 23: MREL requirements and Funding Plan
MREL requirements and Funding Plan MREL position (BCP Resolution Group - 30 Sep 2025)* 33.5% • Resolution strategy: MPE (Multi Point of Entry)2 11.9% • BCP Resolution Group : Perimeter centred in Portugal • Preferred Resolution Measure: Bail-in SP 7.5% SP 2.7% • No subordination requirements have be
Slide 24: Robust liquidity position
Robust liquidity position Liquidity ratios (CRD/CRR) Liquidity excess in ECB (Billion euros) Eligible assets 28.2 29.1 321% +0.43 billion 1.63 1.20 Sep 24 Sep 25 180% Net loans to deposits ratio 69% 68% NSFR (Net stable LCR (Liquidity Sep 24 Sep 25 funding ratio) coverage ratio) 24
Slide 25: Portugal
03 Portugal 25
Slide 26: Profitability in Portugal
Profitability in Portugal Net income Net operating revenue (Million euros) (Million euros) +1.3% +8.0% 1,482.2 1,501.6 654.5 606.0 9M24 9M25 9M24 9M25 Operating Costs Impairment and other provisions (Million euros) (Million euros) +7.4% 482.3 517.9 -30.2% 163.6 114.1 9M24 9M25 9M24 9M25 26
Slide 27: Net interest income
Net interest income (Million euros) -0.9% +92.0 1,003.4 +44.2 +41.2 994.7 +142.6 -38.7 NIM 2.24% -277.7 -12.3 2.10% 9M24 Performing Credit rate Impact of Deposit's Impact of Effect of Excess 9M25 credit volume including NPE reduction interest securities wholesale cost liquidity effect hedges effect
Slide 28: Commissions and other income
Commissions and other income Commissions Other income (Million euros) (Million euros) 41.1 9M24 9M25 YoY 41.4 Banking fees and commissions 367.4 388.0 +5.6% Equity earnings + dividends 40.3 Cards and transfers 119.3 116.8 -2.1% Loans and guarantees 60.9 66.5 +9.3% 40.2 Bancassurance 81.2 92.5 +13.9%
Slide 29: Operating costs
Operating costs Operating Costs Employees (Million euros) +7.4% 517.9 6,275 6,224 482.3 61.0 Depreciation 54.8 161.6 Other administrative 150.0 costs Sep 24 Sep 25 Branches 397 394 Staff costs 277.5 295.3 9M24 9M25 Sep 24 Sep 25 29
Slide 30: NPEs decrease
NPEs decrease Non-performing exposures (NPE) NPE build-up (Million euros) (Million euros) -242 million Sep 25 Sep 25 (Million euros) -23.2% vs. Sep 24 vs. Dec 24 Opening balance 1,045 973 1,045 803 Net outflows/inflows -54 -58 Other NPE Write-offs -34 -17 639 426 Sales -154 -95 NPL>90d 406 377 Endin
Slide 31: NPE coverage
NPE coverage NPE total coverage* NPL>90d total coverage* 164% 23% 132% 141% 145% 2% 100% 100% 36% Real estate collateral 25% 44% 2% 10% 5% Real estate collateral Cash, other fin. collat. Cash, other fin. collat. 49% 138% 66% 1% 94% LLRs 106% 95% LLRs 1% 50% 34% Individuals Companies Total Individual
Slide 32: Foreclosed assets and corporate restructuring funds
Foreclosed assets and corporate restructuring funds Foreclosed assets Corporate restructuring funds (Million euros) (Million euros) -18.1% 92 390 74 Turismo Algarve 319 Impairment 35 FCR fund * 74 36 41 Corporate -19 million 316 Net value 57 restructuring funds 278 -33.0% 38 Sep 24 Sep 25 Sep 24 Sep
Slide 33: Customer funds and loans to Customers
Customer funds and loans to Customers Total Customers Funds* Loans to Customers (gross) (Milhões (Billion de euros*) euros) (Milhões de euros*) (Billion euros) +6.3% 74.0 +7.2% 69.6 42.6 16.4 39.7 Off-BS funds 14.8 1.5 Other BS funds 1.3 21.1 Mortgage 19.2 26.0 Term deposits 26.0 Personal 2.5 2.6 De
Slide 34: Performing loans in Portugal
Performing loans in Portugal Performing loans portfolio Performing loans to individuals increase by 9.7%, highlighting the mortgage loan (Billion euros) portfolio which increase by 1.9 billion. Performing loans to companies increase by 6.0% +8.0% 38.7 41.8 The Bank maintains a prominent position in
Slide 35: International operations
04 International operations 35
Slide 36: Contribution from international operations
Contribution from international operations Contribution from international operations (Million euros) (Million euros1) 9M24 9M25 % Poland 129.1 202.0 56.4% +12.4% 121.5 Mozambique 2 61.8 25.4 -58.9% 108.1 Other 1.8 3.3 77.8% Exchange rate effect -0.2 -- -- Net income international 192.7 230.7 19.8%
Slide 37: Positive evolution of Bank Millennium net income
Evolução positiva do resultado líquido Bank Millennium Net income Net operating revenue (Million euros1) (Million euros 1) +2.2% 542.7 554.4 Net income Excluding +7.8% extraordinary effects2 1,131.7 1,220.2 +56.4% 202.0 Net income 129.1 9M24 9M25 9M24 9M25 3m WIBOR 5.86% 5.36% (average) • Net income
Slide 38: Net interest income increase
Aumento expressivo Net interest da margem financeira income increase Net interest income Operating costs (Million euros*) (Million euros*) +14.5% NIM 4.35% 4.10% 448.1 391.3 +3.2% 987.9 1,019.9 210.1 Other 181.7 209.6 238.0 Staff costs 9M24 9M25 9M24 9M25 Commissions and other income Contributions (
Slide 39: Credit quality
Credit quality NPL>90d Loan-loss reserves (Million euros*) (Million euros*) Credit ratio Coverage ratio NPL>90d 2.2% 2.2% NPL>90d 154% 146% 397.2 404.7 611.6 590.7 Sep 24 Sep 25 Sep 24 Sep 25 Loan impairment (net of recoveries) (Million euros*) • NPL>90d accounted for 2.2% of total loans as of Cost
Slide 40: Customers funds and loans to Customers
Customers funds and loans to Customers Customers funds Loans to Customers (gross) (Million euros*) (Million euros*) +14.2% 33,397 -1.2% 29,231 3,328 18,332 18,120 Off-BS funds 2,495 10,523 Term deposits 9,563 8,529 Mortgage 9,398 +13.8% 4,743 19,546 Personal 4,614 Demand deposits 17,174 +12.2% Compa
Slide 41: CHF mortgages decrease by 34% year-on-year
CHF mortgages decrease by 34% year-on-year CHF mortgage portfolio Individual lawsuits (Billion euros*) (Number of cases) % of gross loan 54.6% 2.2% 1.5% 1.4% 1.1% 0.8% portfolio after legal risk 22,260 provisions 21,854 -34% 7.2 21,092 20,294 -12% Gross loan 18,950 1.6 1.5 1.4 1.2 1.1 portfolio befo
Slide 42: Millennium bim's results influenced by the context
Millennium bim's results influenced by the context Net income Net operating revenue (Million euros*) (Million euros*) +4.9% 190.8 200.2 -58.9% 61.8 25.4 9M24 9M25 9M24 9M25 MIMO rate (average) 15.56% 11.44% Operating costs • Net income of 25.4 million, a reduction of 36.4 million (Million euros*) co
Slide 43: Resilient net interest income
Resilient net interest income Net interest income Operating costs (Million euros*) (Million euros*) NIM 8.0% 8.2% Cost to income 49.9% 51.6% +8.1% 159.2 +8.5% 103.2 147.2 95.1 Other 56.3 60.1 Staff costs 38.9 43.1 9M24 9M25 9M24 9M25 Commissions and other income Employees Branches (Million euros*) -
Slide 44: Credit quality
Credit quality NPL>90d Loan-loss reserves (Million euros*) (Million euros*) Credit ratio Coverage ratio NPL>90d 3.6% 3.5% NPL>90d 115% 127% 22.9 23.2 26.3 29.5 Sep 24 Sep 25 Sep 24 Sep 25 Loan impairment (net of recoveries) (Million euros*) Cost of risk 48bp 124bp • NPL>90d ratio of 3.5% as of Septe
Slide 45: Business volumes
Business volumes Customers funds Loans to Customers (gross) (Million euros*) (Million euros*) +5.7% +3.9% 2,170 656 2,053 631 Mortgage 9 9 1,007 Personal 223 268 Term deposits 985 Companies 399 379 Demand deposits 1,069 1,162 Sep 24 Sep 25 Sep 24 Sep 25 *FX effect excluded. €/Metical constant at Sep
Slide 46: Key figures
05 Key figures 46
Slide 47: Deliver more value
Deliver more value Main targets for strategic cycle 2025-2028 Metrics 9M25 2028 Business volumes 171€bn > 190€bn Portugal 117€bn > 120€bn Healthy Number of customers 7.2mn > 8mn organic Portugal 2.9mn > 3mn growth Mobile customers 74% >80% Portugal 66% > 75% Cost-to-income 37% < 40% Execution Portug
Slide 48: Commitment to People and Society
COMMITMENT TO PEOPLE AND SOCIETY Millennium bcp Foundation Society Sustainability Millennium bcp Gallery (National Millennium bcp launches a Millennium bcp recognised for the Museum of Contemporary Art): customer service with fifth consecutive year in the Exhibition “Mily Possoz. A Poetics of Portug
Slide 49: External Recognition
EXTERNAL RECOGNITION Millennium bcp: 2025 Millennium bcp: 2025 Five Millennium bcp: Leadership Consumer’s Choice, in the stars Bank, “Large Banks” in the ”Inovadora COTEC” “Large Banks” category for category programme the 5th consecutive year Millennium bcp: 2025 Five ActivoBank: 2025 Five stars Mil
Slide 50: Appendix
06 Appendix 50
Slide 51: Sovereign debt portfolio
Sovereign debt portfolio Sovereign debt portfolio Sovereign debt maturity (Milhões de euros*) (Consolidated, million euros) (Milhões de euros*) Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 YoY QoQ >5y, ≤8y: 20% Portugal 6,207 4,453 2,787 2,628 2,382 -62% -9% T-bills and other 947 985 663 704 456 -52% -35% >8y
Slide 52: Sovereign debt portfolio breakdown
Sovereign debt portfolio breakdown Million euros Portugal Poland Mozambique Other Total Trading book 502 175 0 98 775 ≤ 1 year 495 1 0 98 595 > 1 year and ≤ 2 years 2 86 0 0 89 > 2 years and ≤ 5 years 2 54 0 0 56 > 5 years and ≤ 8 years 1 4 0 0 5 > 8 years and ≤ 10 years 0 20 0 0 20 > 10 years 1 10
Slide 53: Diversified and collateralised portfolio
Diversified and collateralised portfolio Carteira de crédito Breakdown Loans per collateral LTV of the mortgage portfolio (Consolidated) (Consolidated) (Portugal) Other 75-80 Mortgage guarantees 9% 25% 60-75 48% 27% 80-90 Companies 13% 39% >90 Real 3% guarantees 57% Unsecured 50-60 0-40 18% 15% 21%
Slide 54: Consolidated net income
Consolidated net income Impact on (Million euros) 9M24 9M25 YoY earnings Net interest income 2,110.8 2,166.6 +2.6% +55.8 Net fees and commissions 604.6 628.8 +4.0% +24.1 Other income* -24.1 29.5 +53.6 Net operating revenue 2,691.3 2,824.9 +5.0% +133.6 Staff costs -522.7 -575.3 +10.1% -52.7 Other adm
Slide 55: Consolidated balance sheet
Consolidated balance sheet 30 September 30 September 30 September 30 September (Million euros) 2025 2024 * 2025 2024 * LIABILITIES ASSETS Financial liabilities at amortised cost Cash and deposits at Central Banks 3,940.9 4,305.5 Deposits from credit institutions and other funds 1,435.2 972.4 Loans a
Slide 56: Consolidated income statement per quarter
Consolidated income statement per quarter Quarterly (Million euros) 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 Net interest income 713.2 720.1 721.1 723.0 722.5 Dividends from equity instruments 0.0 0.2 0.0 0.8 0.0 Net fees and commission income 206.8 208.1 201.4 212.4 215.0 Other net operating income -25.1 -37.
Slide 57: Consolidated income statement
Consolidated income statement (Million euros) For the 9-month periods ended September 30, 2024 and 2025 Int e rna t io na l o pe ra t io ns G ro up P o rt uga l T o tal B a nk M ille nnium ( P o la nd) M ille nnium bim ( M o z.) O t he r int . o pe ra t io ns Sep 2 4 Sep 2 5 Δ % Sep 2 4 Sep 2 5 Δ %
Slide 58: Glossary (1/2)
Glossary (1/2) Assets placed with Customers – amounts held by Customers in the context of the placement of third-party products that contribute to the recognition of commissions. Balance sheet Customer funds – deposits and other resources from Customers and debt securities placed with Customers. Bus
Slide 59: Glossary (2/2)
Glossary (2/2) Net commissions - net fees and commissions income. Net interest margin (NIM) - net interest income for the period as a percentage of average interest earning assets. Net operating revenues - net interest income, dividends from equity instruments, net commissions, net trading income, o
Slide 60: Investor Relations Division
INVESTOR RELATIONS DIVISION Bernardo Collaço, Head EQUITY DEBT AND RATINGS Alexandre Moita Luís Morais +351 211 131 321 +351 211 131 337 investors@millenniumbcp.pt BANCO COMERCIAL PORTUGUÊS, S.A. Registered Office: Praça D. João I, 28, Oporto, Share Capital: EUR 3,000,000,000.00. Registered at the C
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