Portuguese banking group operating as Millennium bcp, providing retail, corporate and investment banking services.
Profile & Fundamentals
Banco Comercial Portugues: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Banco Comercial Portugues Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
Explore this pageJump to a Profile & Fundamentals section
Explore this research
Profile & Fundamentals contents
Jump directly to any section
Company and Market Context
Company Profile & Ownership
Banco Comercial Português, S.A. engages in the provision of various banking and financial products and services in Portugal and internationally. The company operates through Retail Banking; Companies and Corporate; Private Banking; International Business, and Other segments. It offers a range of financial products and services, including current accounts, payment systems, savings and investment products, private banking, asset management, and investment banking services, such as mortgage loans, personal loans, commercial banking, leasing, factoring, insurance, and other products. The company is also involved in the provision of investment fund and real estate management, e-commerce, web portal, leasing, consulting, brokerage, marketing, and real estate investment fund management services; and internet, telephone, and mobile banking services as well as buying and selling real estate. In addition, it offers credit, debit, and prepaid cards; personal, mortgage, car loan, and salary loan; health, car, life, travel, personal accident, home, pet, work accident, payment protection, and transportation and repatriation insurance; retirement services; structured products, discretionary management, investment funds, and other technology and services. Further, the company provides short, medium, and long term financing solutions; internacional operations financing; and treasury services. Banco Comercial Português, S.A. was incorporated in 1985 and is based in Porto, Portugal.
Company profile record
Banco Comercial Portugues
Common Stock · Financials · Diversified Banks
Company
- Company / asset
- Banco Comercial Portugues
- Security type
- Common Stock
- Sector
- Financials
- Industry
- Diversified Banks
- HQ
- 🇵🇹 Portugal
- Head office
- Praça D. João I, 28, Porto, Portugal, 4000-295
Leadership & scale
- Chief executive
- Mr. Miguel Maya Dias Pinheiro
- CEO year born
- 1964
- Full-time employees
- 15.6K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- EUR 18.0B
- P/E
- 13.6x
- Revenue (Q2 26)
- EUR 1.0B
- Profit (Q2 26)
- EUR 260.1M
- Dividend Yield
- 2.2%
- Revenue (FY 25)
- EUR 3.9B
- Shares in public float
- 8.8B
- Insider ownership
- 40.53%
Reporting & identifiers
- Symbol
- BCP.LIS
- Listing
- 🇵🇹 Portugal | Dividend Tax: 25%
- Ticker Currency
- EUR
- Income Statement Currency
- EUR
- Balance Sheet Currency
- EUR
- Cash Flow Currency
- EUR
- EPS Currency
- EUR
- Contract Type
- SPOT
- ISIN
- PTBCP0AM0015
- Asset ID
- equity_df98ce48-aad4-5b70-be97-63a29513723b
Ownership
Shares Outstanding
Latest: 15.1B | Max: 15.1B | Min: 4.6B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
58.08%
8.8B latest reported shares
Insider Ownership
40.53%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2015-01-01 | 4,568,476,700 |
| 2016-01-01 | 4,554,801,600 |
| 2017-01-01 | 15,113,666,200 |
| 2018-01-01 | 15,113,666,200 |
| 2019-01-01 | 15,113,666,200 |
| 2020-01-01 | 15,113,666,200 |
| 2021-01-01 | 15,113,666,200 |
| 2022-01-01 | 15,113,990,000 |
| 2023-01-01 | 15,113,990,000 |
| 2024-01-01 | 15,113,990,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The bank has delivered an impressive financial turnaround, generating a record 1.02 billion euros in net income in fiscal 2025 and 565.8 million euros in the first half of 2026. This success was powered by wider lending margins from elevated European interest rates and a dramatic 65% drop in costly legacy Polish mortgage lawsuits. These results reflect real balance-sheet rehabilitation rather than accounting tricks. However, the latest quarterly trends show that earnings growth is slowing, with second-quarter profit expanding by less than 1% as lending margins plateau. Because the benefit of higher interest rates has peaked and customer deposit costs are starting to rise, future earnings will rely on operational efficiency and customer fees rather than easy spread expansion.
The bank has delivered an impressive financial turnaround, generating a record 1.02 billion euros in net income in fiscal 2025 and 565.8 million euros in the first half of 2026. This success was powered by wider lending margins from elevated European interest rates and a dramatic 65% drop in costly legacy Polish mortgage lawsuits. These results reflect real balance-sheet rehabilitation rather than accounting tricks. However, the latest quarterly trends show that earnings growth is slowing, with second-quarter profit expanding by less than 1% as lending margins plateau. Because the benefit of higher interest rates has peaked and customer deposit costs are starting to rise, future earnings will rely on operational efficiency and customer fees rather than easy spread expansion.
Revenue, Net Income, and Free Cash Flow
Latest: EUR 3.9B | Max: EUR 5.4B | Min: EUR -705.8M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 11x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability has reached cyclical peaks, with net profit margins touching 26% and return on equity reaching 13.0% in 2025 and 14.6% in early 2026. This margin surge was created because loans repriced immediately with higher central bank interest rates, while the interest paid to everyday depositors stayed close to zero in Portugal's concentrated banking market. These peak margins are fundamentally temporary rather than a permanent competitive moat. As depositors gradually move their money into higher-yielding term accounts and competition forces tighter loan spreads, net interest margins will shrink. Long-term return on equity will naturally normalize toward 10.5% to 11.0% over the forecast horizon.
Profitability has reached cyclical peaks, with net profit margins touching 26% and return on equity reaching 13.0% in 2025 and 14.6% in early 2026. This margin surge was created because loans repriced immediately with higher central bank interest rates, while the interest paid to everyday depositors stayed close to zero in Portugal's concentrated banking market. These peak margins are fundamentally temporary rather than a permanent competitive moat. As depositors gradually move their money into higher-yielding term accounts and competition forces tighter loan spreads, net interest margins will shrink. Long-term return on equity will naturally normalize toward 10.5% to 11.0% over the forecast horizon.
Profitability Margins
Latest: 26.0% | Max: 76.1% | Min: -23.2%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
--
Gross profit / revenue
Operating Margin
--
Operating income / revenue
Net Margin
26.0%
Net income / revenue
FCF Margin
87.4%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 2,025,352,600 | 25,374,280 | 3,203,676,160 |
| 2017-12-31 | 2,645,217,680 | 221,805,290 | 581,696,990 |
| 2018-12-31 | 2,615,492,880 | 343,214,100 | 4,438,862,460 |
| 2019-12-31 | 2,807,453,600 | 338,243,360 | 474,913,600 |
| 2020-12-31 | 2,987,903,220 | 223,274,640 | 3,628,033,560 |
| 2021-12-31 | 2,862,753,180 | 157,413,480 | 4,937,588,520 |
| 2022-12-31 | 3,300,278,040 | 222,021,790 | -755,173,900 |
| 2023-12-31 | 4,247,260,600 | 941,655,000 | 4,232,272,000 |
| 2024-12-31 | 3,882,416,720 | 942,633,120 | 5,621,738,720 |
| 2025-12-31 | 4,585,734,270 | 1,191,816,990 | 4,009,573,620 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 10.73 | Trailing four quarters |
| 2024-12-31 | 6.16 | Trailing four quarters |
| 2023-12-31 | 4.84 | Trailing four quarters |
| 2022-12-31 | 10.63 | Annual net income |
| 2021-12-31 | 15.43 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 35.04 | -23.22 | 1.25 | 158.18 |
| 2017-12-31 | 63.65 | 16.35 | 8.39 | 21.99 |
| 2018-12-31 | 72.95 | 24.37 | 13.12 | 169.71 |
| 2019-12-31 | 76.09 | 25.95 | 12.05 | 16.92 |
| 2020-12-31 | Not reported | Not reported | 7.47 | 121.42 |
| 2021-12-31 | Not reported | Not reported | 5.5 | 172.48 |
| 2022-12-31 | Not reported | Not reported | 6.73 | -22.88 |
| 2023-12-31 | Not reported | Not reported | 22.17 | 99.65 |
| 2024-12-31 | Not reported | Not reported | 24.28 | 144.8 |
| 2025-12-31 | Not reported | Not reported | 25.99 | 87.44 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-06.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
Complete Research Workspace
Unlock the complete Profile & Fundamentals
Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.