The group managed to keep its profits afloat in spite of increased impairments driven by its restructuring fund thanks to tax gains. Even if the pre-provision profits proved resilient, the reduction in impairments is not guaranteed next year as confirmed by management’s guidance.
03 Aug 2020
Tax gains to the rescue
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Tax gains to the rescue
Banco Comercial Portugues S.A. (0RJN:LON) | 0 0 0.0%
- Published:
03 Aug 2020 -
Author:
David Grinsztajn -
Pages:
2
The group managed to keep its profits afloat in spite of increased impairments driven by its restructuring fund thanks to tax gains. Even if the pre-provision profits proved resilient, the reduction in impairments is not guaranteed next year as confirmed by management’s guidance.