Banco Comercial Portugues S.a. · EURONEXT:BCP

Banco Comercial Portugues — H1 2018 Earnings Presentation

72 slides from Banco Comercial Portugues's earnings presentation, Jul 26, 2018

1. Slide 1: Earnings Presentation 1st Half 2018

   Millennium bcp EARNINGS PRESENTATION ~ 15° HALF 2018 © MOBILIZING MILLENNIUM @ PERSONAL MAIN GUIDELINES OF 2021 STRATEGIC PLAN w

2. Slide 2: Disclaimer

   Disclaimer The information in this presentation has been prepared under the scope of the International Financial Reporting Standards (‘IFRS’) of Group BCP for the purposes of the preparation of the consolidated financial statements under Regulation (CE) 1606/2002, taking into consideration their suc

3. Slide 3: Agenda

   Agenda  Earnings for the 1st half of 2018  Mobilizing Millennium: Main guidelines of 2021 strategic plan 3

4. Slide 4: Agenda

   Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 4

5. Slide 5: Highlights

   Highlights •1 Improved profitability, with net earnings of €150.6 million in the 1st half of 2018 2 Improved credit quality, with NPEs decreasing by €2.1 billion from June 30, 2017 •3 Increasing business volumes, up by €2.9 billion from June 30, 2017 •4 +103,000 active Customers in Portugal from Jun

6. Slide 6: Highlights

   Highlights 1 Improved profitability 2 Improved asset quality (Consolidated net earnings, million euros) (Non-performing exposures, billion euros) -€2.1 billion 8.8 6.7 NPEs group +67.5% -€1.9 billion 150.6 7.8 89.9 5.9 NPEs Portugal 3.3 2.4 Other NPEs 4.6 3.6 NPL>90d 1H17 1H18 Jun 17 Jun 18 3 Increa

7. Slide 7: Agenda

   Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 7

8. Slide 8: Improved profitability across geographies

   Improved profitability across geographies (Million euros) Consolidated net earnings* Net earnings from domestic activity +67.5% 150.6 59.0 89.9 1.6 1H17 1H18 1H17 1H18 Net earnings from international operations • Net earnings of €150.6 million in 1H18, a 67.5% increase from €89.9 million in the same

9. Slide 9: Profit of €150.6 million in the 1st half of 2018

   Profit of €150.6 million in the 1st half of 2018 Impact on (million euros) 1H17 1H18 YoY earnings Net interest income 678.5 687.7 +1.3% +9.2 Commissions 330.3 340.2 +3.0% +9.9 Core income 1,008.8 1,027.9 +1.9% +19.0 Other income* 40.0 28.9 -27.7% -11.1 Operating costs -450.2 -500.8 +11.2% -50.6 Of w

10. Slide 10: Net interest income driven by international operations

    Net interest income driven by international operations (Million euros) Net interest income Consolidated Portugal NIM 1.8% 1.8% NIM 2.2% 2.2% -1.4% 390.2 384.8 +1.3% 678.5 687.7 1H17 1H18 International operations NIM 3.1% 3.1% +5.1% 288.3 302.9 1H17 1H18 1H17 1H18 10

11. Slide 11: Increased commissions

    Increased commissions (Million euros) Fees and commisions Consolidated Portugal +3.9% 1H17 1H18 YoY 225.2 234.0 Banking fees and commissions 271.6 278.3 +2.5% Cards and transfers 75.2 79.8 +6.1% Loans and guarantees 78.5 81.4 +3.7% 1H17 1H18 Bancassurance 47.5 48.1 +1.3% Customer account related 52.

12. Slide 12: Other income influenced by mandatory contributions and credit sales

    Other income* influenced by mandatory contributions and credit sales (Million euros) Other income* Consolidated Portugal -27.7% 40.0 -40.7% 28.9 Equity earnings 26.5 + dividends 36.7 15.7 42.0 Includes -€22.4 Net trading million on credit sales 1H17 1H18 income 89.9 77.0 Mandatory 57.9 66.5 contribu

13. Slide 13: Recurring operating costs under control

    Recurring operating costs under control, in spite of the impact from the reversal of salary cuts (Million euros) Operating costs Consolidated Portugal Impact from reversal of salary cuts: +€7.5 million +4.0% +3.5% Recurring 473.9 492.8 Recurring 294.8 305.2 +11.2% +15.5% 500.8 271.1 313.2 450.2 28.4

14. Slide 14: Millennium bcp: one of the most efficient banks in the Eurozone

    Millennium bcp: one of the most efficient banks in the Eurozone Cost to core income* Cost to core income* Latest available information 80% -9pp 71% vs. peers in vs. Euro-zone Portugal banks 86% -37pp 49% 49% 49% Banco 1 58% 60% 2013 1H18 Banco 2 49% 77% Cost to income 67% +1pp 68% Banco 3 65% 98% -2

15. Slide 15: Cost of risk keeps normalisation trend

    Cost of risk keeps normalisation trend (Million euros) Impairment and provision charges Consolidated Portugal Cost of risk 133bp 103bp Cost of risk 118bp 88bp -34.8% 370.0 415.3 -32.6% Other 112.3 241.3 49.6 Loans 257.7 191.8 Other 110.3 279.8 1H17 1H18 Loan-loss 3,165 2,810 reserves 59.0 Internatio

16. Slide 16: Relevant NPE reduction and strengthened coverage

    Relevant NPE reduction and strengthened coverage (Million euros) Credit quality Consolidated Portugal NPE coverage by -24.3% LLRs 41% 50% NPEs 7,816 -1.9 billion -23.9% 5,913 NPEs 8,761 -2.1 billion 6,665 Other 3,721 2,633 Jun 17 Jun 18 5,040 International operations NPL>90d 4,032 -20.4% Jun 17 Jun

17. Slide 17: Agenda

    Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 17

18. Slide 18: Strong Customer acquisition

    Strong Customer acquisition Active Customers Digital Customers (Million) (Million) +55,000 since December 17 +103,000 2.2 +79,000 since December 17 2.1 +113,000 0.9 0.8 Jun 17 Jun 18 Jun 17 Jun 18 Awards and surveys • Bank closest to its Customers; most innovative Bank; Bank of choice; Bank with the

19. Slide 19: Strong business dynamics results in growing Customer funds

    Strong business dynamics results in growing Customer funds (Billion euros) Total Customers funds* Consolidated Total Customers funds* in Portugal +5.9% +7.5% 72.5 53.0 68.4 49.4 Other 14.5 15.6 17.8 Term 19.2 Off-BS 16.2 deposits 19.4 funds Demand 1.2 deposits 15.4 18.3 Other BS 1.6 funds Jun 17 Jun

20. Slide 20: Strong business dynamics, with increasing performing portfolio

    Strong business dynamics, with increasing performing portfolio (Billion euros) Loans to Customers (gross) Consolidated Portugal NPE: -24.3% (-€1.9 billion) NPE: -23.9% (-€2.1 billion) Performing: +1.8% (+€0.5 billion) Performing: +2.0% (+€0.9 billion) -3.5% -2.4% 38.7 37.4 51.7 50.5 Mortgage 23.7 23

21. Slide 21: Comfortable liquidity position

    Comfortable liquidity position Net loans to deposits ratio ECB funding (Billion euros) Eligible assets 12.0 15.6 -7pp 3.6 3.1 95% 88% Jun 17 Jun 18 Liquidity ratios (CRD IV/CRR) 176% 129% Jun 17 Jun 18 NSFR (Net stable LCR (Liquidity funding ratio) coverage ratio) 21

22. Slide 22: Agenda

    Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 22

23. Slide 23: Comfortable capital position

    Comfortable capital position Common Equity Tier 1 ratio* Fully implemented  CET1 capital ratio of 11.7% (fully implemented)  Increase from a 11.3% fully implemented ratio ECB requirement as of June 30, 2017 due to organic capital (SREP) for CET1 in 2018: 8.8% generation (+66bps on capital due to e

24. Slide 24: Capital at comfortable levels, strong leverage ratios

    Capital at comfortable levels, strong leverage ratios Leverage ratio Leverage ratio Fully implemented Fully implemented, latest available data 6.4% 5.7% 6.3% 6.4% 5.7% 4.5% 3.7% Jun 17 Jun 18 FR DE ES IT RWA density Texas ratio* RWAs as % of assets, latest available data 57% 93.2% 74.4% 43% 42% 26%

25. Slide 25: Pension fund

    Pension fund Key figures Pension fund (Million euros) Shares 13% Dec 17 Jun 18 Cash and Pension liabilities 3,050 3,056 other 44% Pension fund 3,166 3,202 Liabilities' coverage 104% 105% Bonds 35% Fund's profitability +4.2% +3.1% Actuarial differences +29 +27 Real estate 8% Assumptions Dec 17 Jun 18

26. Slide 26: Agenda

    Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 26

27. Slide 27: Increased net income

    Increased net income (Million euros) Net income Banking income +57.5 59.0 641.9 634.4 1.6 1H17 1H18 1H17 1H18 Operating costs Includes non-usual negative Includes non-usual positive impact of €8.0 million  Net earnings of €59.0 million in 1H18, + €57.5 impact of €23.7 million million compared to €1

28. Slide 28: Net interest income

    Net interest income Net interest income (Million euros) -1.4% +18.1 +6.3 +8.5 390.2 +0.1 384.8 -16.1 -12.6 -9.8 NIM 1.8% 1.8% 1H17 CoCo Effect of cost Effect of Credit Effect of net Effect of Other 1H18 repayment of time wholesale cost volume recovery of securities effect deposits effect interest po

29. Slide 29: Continued effort to reduce the cost of deposits

    Continued effort to reduce the cost of deposits Spread on the book of term deposits Spread on the performing loan book (vs 3m Euribor) (vs 3m Euribor) 1H17 1H18 2.7% 2.7% -0.6% -0.7% 1H17 1H18 NIM  Continued improvement in the spread of the portfolio of term deposits: from -0.7% in the first half o

30. Slide 30: Commissions and other income

    Commissions and other income* (Million euros) Fees and commissions Other income* -40.7% 1H17 1H18 YoY 26.5 Banking fees and commissions 194.0 201.0 +3.6% 15.7 Cards and transfers 51.4 53.1 +3.4% Loans and guarantees 51.7 53.5 +3.4% 1H17 1H18 Bancassurance 39.3 40.7 +3.6% Customer account related 46.

31. Slide 31: Operating costs

    Operating costs (Million euros) Operating costs Employees Impact from reversal of salary cuts: +€7.5 million +3.5% Recurring 294.8 305.2 -152 +15.5% 7,303 7,151 313.2 17.9 271.1 Depreciation 16.1 107.9 Jun 17 Jun 18 Other administrative 109.9 Branches costs Includes non-usual negative Includes non-u

32. Slide 32: Very strong pace of NPE reduction since 2013

    Very strong pace of NPE reduction since 2013 (Million euros) Non-performing exposures (NPEs) • NPEs in Portugal down to €5.9 billion as of 12,783 June 30, 2018, a €841 million reduction 10,921 from year-end 2017 9,777 8,538 6,754 • This decrease is attributable to a €497 5,913 Other million NPLs> 90

33. Slide 33: Lower NPEs, with reinforced coverage

    Lower NPEs, with reinforced coverage (Million euros) Non-performing exposures (NPEs) NPE build-up -24.3% 7,816 Jun 18 Jun 18 5,913 Other NPEs 3,258 vs.Jun 17 vs.Mar 18 2,352 Opening balance 7,816 6,282 +/- Net entries -813 -134 NPL>90d 4,558 3,561 - Write-offs -531 -134 - Sales -560 -101 Jun 17 Jun

34. Slide 34: NPE coverage

    NPE coverage NPE total coverage* NPE total coverage* 105% 106% 110% 106% 97% Real estate 34% Real estate 46% 44% collateral 44% collateral Cash, other 69% 20% 15% 15% Cash, other 18% fin.collat., EL gap fin.collat., EL gap 48% 3% 56% 48% 40% LLRs 24% LLRs Jun 17 Jun 18 Individuals Companies Total NP

35. Slide 35: Foreclosed assets and corporate restructuring funds

    Foreclosed assets and corporate restructuring funds Foreclosed assets Corporate restructuring funds (Million euros) (Million euros) Valuation exceeds book value by 26% Original credit exposure: €2,006 million Book value (30 Jun 2018): €1,020 million 1,825 1,664 Total impairment (credit+restr. funds)

36. Slide 36: Strong business dynamics leads to increased Customer funds and performing credit

    Strong business dynamics leads to increased Customer funds and performing credit portfolio (Billion euros) Total Customers funds* Loans to Customers (gross) +7.5% 53.0 49.4 NPE: -24.3% (-€1.9 billion) Performing: +1.8% (+€0.5 billion) Decrease from €38.0 billion in March due to strong NPE reduction

37. Slide 37: Credit now growing in Portugal

    Credit now growing in Portugal (Billion euros) Performing credit portfolio • Growth of the performing credit portfolio in Portugal of 1.8% from June 30, 2017 +1.8% • Strong performance of credit activity in the first six months of 2018: 31.4 – New consumer credit increased 19.1% 30.9 compared to the

38. Slide 38: Main bank of companies in Portugal

    Main bank of companies in Portugal Results BFin 2018 DataE*, 5 largest Banks in Portugal Usage and satisfaction indicators (%) Used as primary Satisfaction with Usage of net Satisfaction net Bank primary Bank** banking Mobile: banking** • Millennium bcp is the main Bank of 25% (#1) Companies in Port

39. Slide 39: Agenda

    Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 39

40. Slide 40: Increased contribution from international operations

    Increased contribution from international operations (Million euros) Δ% Δ% 1H17 1H18 ROE local currency euros Poland 74.3 82.3 +10.8% +11.7% 9.5% Mozambique 41.9 51.1 +22.0% +19.4% 26.1% Angola* Before IAS 29 impact 10.8 8.9 IAS 29 impact** -- -2.7 Total Angola including IAS 29 impact 10.8 6.2 Other

41. Slide 41: Increased net income (Poland)

    Increased net income (Million euros) Net income Banking income ROE 9.5% 9.5% +5.4% +10.8% 297.7 313.6 74.3 82.3 1H17 1H18 1H17 1H18 Operating costs  Net earnings of € 82.3 million (+10.8%), with ROE of 9.5%  Increasing banking income, driven by net interest income +4.0% and commissions  Customer

42. Slide 42: Increased net interest income and commissions

    Increased net interest income and commissions (Million euros) Net interest income* Operating costs NIM 2.5% 2.5% Cost to income 46.5% 46.4% +6.2% +4.0% 211.3 143.8 149.6 199.0 Other 74.0 +1.0% 74.8 Staff costs 69.8 +7.2% 74.8 1H17 1H18 1H17 1H18 Commissions and other income Employees Branches Does n

43. Slide 43: Credit quality

    Credit quality (Million euros) NPL>90d Loan-loss reserves Credit ratio Jun 17 Jun 18 Coverage ratio Jun 17 Jun 18 NPL>90d 2.7% 2.7% NPL>90d 109% 133% 430.3 305.8 323.1 332.3 Jun 17 Jun 18 Jun 17 Jun 18 Loan impairment (net of recoveries)  NPL>90d accounted for 2.7% of total credit as of Cost of Jun

44. Slide 44: Growing volumes

    Growing volumes (Million euros) Customers funds Loans to Customers (gross) +5.8% +15.6% excluding FX 15,835 mortgage loans Off-BS 14,966 funds +12.2% +6.9% 2,058 11,924 1,834 93 11,154 Other BS -5.0% funds 98 +22.4% 2,898 Mortgage 2,367 5,407 Local currency Term 5,812 -7.0% deposits -10.0% 3,392 Mor

45. Slide 45: Growing net earnings (Mozambique)

    Growing net earnings (Million euros) Net income Banking income +6.8% ROE 25.8% 26.1% 120.9 +22.0% 113.2 51.1 41.9 1H17 1H18 1H17 1H18 Operating costs  Net earnings of €51.1 million (+22.0%), with ROE of 26.1%  Increasing banking income (+6.8%), driven by higher net interest income and other income

46. Slide 46: Growing income partially offset by the increase in operating costs

    Growing income partially offset by the increase in operating costs (Million euros) Net interest income Operating costs Cost to income 36.9% 35.7% NIM 10.7% 10.9% +3.0% 41.8 43.1 +3.1% 89.4 92.2 23.6 +4.0% 24.6 Other Staff costs 18.2 +1.8% 18.5 1H17 1H18 1H17 1H18 Commissions and other income Employe

47. Slide 47: Credit performance influenced by challenging environment

    Credit performance influenced by challenging environment (Million euros) NPL>90d Loan-loss reserves Credit ratio Jun 17 Jun 18 Coverage ratio Jun 17 Jun 18 NPL>90d 14.0% 15.9% NPL>90d 65% 55% 104.1 160.8 145.4 79.9 Jun 17 Jun 18 Jun 17 Jun 18 Loan impairment (net of recoveries) Cost of  NPL>90d rat

48. Slide 48: Growing deposits and lower credit

    Growing deposits and lower credit (Million euros) Customers funds Loans to Customers (gross) +0.5% 1,509 1,517 -20.4% 1,150 Mortgage 13 -13.3% Term 675 deposits +12.3% 758 Consumer 202 915 and other 11 -23.9% 153 Companies 936 -19.8% Demand 834 751 deposits -9.0% 759 Jun 17 Jun 18 Jun 17 Jun 18 FX e

49. Slide 49: Agenda

    Agenda  Highlights  Group • Profitability • Business activity • Capital  Portugal  International operations  Key figures 49

50. Slide 50: Key figures

    Key figures Consolidated 1H17 1H18 CET1 fully implemented 11.3% 11.7% Loans to Deposits 95% 88% Cost–Income1 45.2% 46.6% Cost-Core Income1, 2 47.0% 47.9% Cost of risk 118 bp 88 bp RoE3 4.3% 6.8% Cumulative NPE reduction -€1.9 billion -€3.9 billion from January 1, 2016 (Portugal) 1 Excludes non-usual

51. Slide 51: Agenda

    Agenda  Earnings for the 1st half of 2018  Mobilizing Millennium: Main guidelines of 2021 strategic plan 51

52. Slide 52: Completed cycle of operational turnaround

    Completed cycle of operational turnaround Material improvement of Deep turnaround 2012-17 More robust balance sheet results Cost-to-income, Group NPEs (€Bn), Group Net income (€M), Group 63 13.7 186 43 7.7 -1,219 2012 2017 2013 2017 2012 2017 Operational cost (€M), Group Accumulated impairments ROE,

53. Slide 53: Prepared to face a challenging future

    Prepared to face a challenging future Millennium’s 2012-17 … new trends in a changing … require additional turnaround based on core environment… capabilities… competencies… Customer oriented  Customers increasingly mobile, relationship model impatient and demanding 2017 NPS rank personalization Lea

54. Slide 54: Five strategic priorities to launch a new growth cycle

    Five strategic priorities to launch a new growth cycle Growth and leadership in Portugal Mobile-centric Growth in digitization international footprint Business model Talent sustainability Mobilization 54

55. Slide 55: Talent Mobilization

    Talent Mobilization Strengths Priorities going forward • Workforce talent as a Engagement and commitment sustained advantage Engagement of the entire organization to proactively in the market pursue new vision and strategy • Overall increase in New ways of working satisfaction Empowerment and simpli

56. Slide 56: Mobile-centric digitization

    Mobile-centric digitization Main initiatives/levers Ambition for 2021 vs 2017 3x Mobile expanding day-to-day capabilities, with interactions anytime, anywhere Weight of digital sales Transform top customer journeys, with advanced analytics modelling Expand (democratize) personalized +20% +15% soluti

57. Slide 57: Growth and leadership in Portugal

    Growth and leadership in Portugal Maximize potential of unique position as the largest private Portuguese bank Main initiatives/ Ambition for 2021 vs 2017 levers Strength mortgage position redesigning +1,2 Bn€ customer journey and Mortgage new business expanding Market share in mortgage new distribu

58. Slide 58: Growth and leadership in Portugal

    Growth and leadership in Portugal Maximize potential of unique position as the largest private Portuguese bank Main initiatives/ Ambition for 2021 vs 2017 levers Accelerate the credit decision process, adopting "pre- +1.1 Bn€ Lending to small business approved" facilities and increasing automated Be

59. Slide 59: Growth in international footprint

    Growth in international footprint Capitalize on opportunities in high growth markets where we have competitive advantages Expand Customer base in Poland, capturing full 2021 aspiration potential of relationships for the international footprint Reinforce growth of Banque Privée in Support business Sw

60. Slide 60: Business model sustainability

    Business model sustainability Pursue low risk retail and commercial banking, innovating in credit management and monitoring Main levers Ambition for 2021 Strong governance and management framework in place to ensure plan is delivered NPE reduction Strictly deliver on NPE plan levers 602017% ~Vis-à-v

61. Slide 61: Millennium Group's ambitions for 2021

    Millennium Group’s ambitions for 2021 Consolidated 1H18 2021 Total active Customers 4.8 million >6 million Franchise Digital customers 45% >60% growth Mobile customers 26% >45% Cost-Income 47% ≈40% RoE 5.3% ≈10% Value CET1 11.7% ≈12% creation Loans to Deposits 88% <100% Dividend payout -- ≈40% ≈3 bn

62. Slide 62: Appendix

    Appendix AGILE | MODERN | PERSONAL | SIMPLE| SUSTAINABLE 62

63. Slide 63: Sovereign debt portfolio

    Sovereign debt portfolio Sovereign debt portfolio Sovereign debt maturity (Million euros) >8y, ≤10y >10y 2% 2% Jun 17 Mar 18 Jun 18 YoY QoQ Portugal 5,089 4,696 5,938 +17% +26% ≤1y 24% T-bills and other 845 499 721 -15% +44% >5y, ≤8y Bonds 4,244 4,197 5,217 +23% +24% 34% >1y, ≤2y Poland 3,847 3,981

64. Slide 64: Sovereign debt portfolio

    Sovereign debt portfolio (Million euros) Portugal Poland Mozambique Other Total Trading book* 37 284 0 27 348 ≤ 1 year 0 44 0 0 44 > 1 year and ≤ 2 years 33 3 0 26 62 > 2 years and ≤ 5 years 2 196 0 0 199 > 5 years and ≤ 8 years 2 31 0 0 33 > 8 years and ≤ 10 years 0 11 0 0 11 > 10 years 0 0 0 1 1 B

65. Slide 65: Diversified and collateralised portfolio

    Diversified and collateralised portfolio Loan portfolio Consolidated Companies 46% Loans per collateral Mortgage 58% 26% 16% 46% Real guarantees Other guarantees Unsecured LTV of the mortgage portfolio in Portugal 15% 11% 13% 27% 11% 11% 11% 0-40 40-50 50-60 60-75 75-80 80-90 >90 Consumer / other 8%

66. Slide 66: Consolidated earnings

    Consolidated earnings Impact on (million euros) 1H17 1H18 YoY earnings Net interest income 678.5 687.7 +1.3% +9.2 Net fees and commissions 330.3 340.2 +3.0% +9.9 Other income* 40.0 28.9 -27.7% -11.1 Banking income 1,048.8 1,056.8 +0.8% +8.0 Staff costs -241.5 -289.8 +20.0% -48.3 Other administrative

67. Slide 67: Consolidated balance sheet

    Consolidated balance sheet (Million euros) 30 June 30 June 30 June 30 June 2018 2017 2018 2017 Assets Liabilities Cash and deposits at Central Banks 2,165.8 1,650.9 Resources from credit institutions 6,985.8 9,373.2 Loans and advances to credit institutions Resources from customers 53,454.6 50,635.7

68. Slide 68: Consolidated income statement

    Consolidated income statement Per quarter (Million euros) 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 Net interest income 346.2 344.7 368.1 344.8 342.8 Dividends from equity instruments 1.5 0.1 0.1 0.1 0.6 Net fees and commission income 169.5 164.3 172.1 167.8 172.4 Other operating income -71.4 -10.4 -5.2 -29.1 -

69. Slide 69: Income statement (Portugal and International operations)

    Income statement (Portugal and International operations) For the 6-month periods ended June 30th, 2017 and de 2018 (Million euros) 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 Jun 17 Jun 18

70. Slide 70: Glossary (1/2)

    Glossary (1/2) Balance sheet impairment – Balance sheet impairment related to amortised cost and fair value adjustments related to loans to customers at fair value through profit or loss. Balance sheet customer funds - debt securities and customer deposits. Commercial gap –loans to customers (gross)

71. Slide 71: Glossary (2/2)

    Glossary (2/2) Operating costs - staff costs, other administrative costs and depreciation. Other impairment and provisions - other financial assets impairment, other assets impairment, in particular provision charges related to assets received as payment in kind not fully covered by collateral, good

72. Slide 72: Investor Relations Division

    illenniu INVESTOR RELATIONS DIVISION Rui Coimbra, Head EQUITY DEBT AND RATINGS Luis Pedro Monteiro and Paula Dantas Henriques Luis Morais and Lina Fernandes +351 21 1131 084 +351 21 1131 337 investors@millenniumbcp.pt Banco Comercial Portugués, S.A., a public company (sociedade aberta) having its re

Banco Comercial Português — H1 2018 Earnings Presentation on 6ix