Portugal’s Crédito Agrícola group made a profit of €296.8 million in 2023, more than tripling the €87.8 million of the previous year, it said in a press release today. The financial margin, the difference between what it receives in interest on loans and what it pays in interest on deposits, also doubled, from €367.8 million to €749.5 million. Crédito Agricola is one of the least ‘pretentious’ banks in Portugal. It used to be known as the ‘farmers’ bank’. At the end of December last year, the Portuguese operation had 4,136 employees – 146 more than in the same month of 2022, and 618 branches, again, up on the number of branches the year before.
Crédito Agrícola profits more than triple in 2023 to €296.8 million
