Banco de Portugal had higher-than-expected profits and delivered EUR 406 million to the State – Observer
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The Bank of Portugal will pay a dividend of 406 million euros to the State, after ending 2021 with net income of 508 million euros, 42 million more than budgeted. The value of the financial exceeds what is entered in the State for approval, which provided for 295 million in a determined budget of the dividend supervisor – but it is a little less than the 428 million contracted in the previous year.
The amount delivered to the State, 406 million euros639 million to account for the payment in the year (feiraC), according to the 2021 report of the board of directors to be presented by Banco de Portugal, under the description of a group of journalists to the Carregado Complex for a press conference to present the report.
THE balance of the Bank of Portugal increased by around 27 thousand euros, to 219 thousand, a reflection mainly of the purchases of public debt that were made by the national central banks of the Eurosystem – under the programs of millions of securities that are close to the end of purchase, including the Pandemic Emergency Purchase Program (PEPP), the stimulus plan launched by the ECB at the beginning of the pandemic.
Under the intervention programs, the public debt securities portfolio increased by 17.1 thousand euros, to millions 86.2 billion. On the other hand, Banco de Portugal benefited from the appreciation of gold reserves, whose value rose by 808 million euros, to a total of 19.8 billion euros.
Regarding the results, Banco de Portugal also mentions that the interest margin amounted to 677 million euros – an amount due to interest received on public debt securities (845 million) whose issuer is the Portuguese Republic. That is, Portugal, for having the debt securities purchased, received by the State and, now, the income market with this interest in the form of payment of taxes and duties.