Banco Português de Fomento (BPF) announced that financing for companies reached 5,150 million euros by September 2025, a significant increase compared to the 539 million euros recorded throughout 2024.
During a press conference in Lisbon, the public bank revealed that the target for the end of the year is to reach 6,000 million euros in financing, which includes guarantees, equity instruments, debt and investment funds.
The executive president of BPF, Gonçalo Regalado, expressed optimism, stating that he expects “the group’s best year of production, excluding the year of Covid [2020]”. However, he clarified that the previous target of 7,000 million euros was revised to 6,000 million due to “large operations” that could be postponed to 2026.
Regalado explained that some financing depends on collaboration with other entities to be implemented, which could occur later this year or in the first months of 2026. “We have no doubt that the 1,000 million euros will arrive, but it is not in the bank’s hands to do so in this calendar year”, he added.
In relation to problematic credit, the BPF recorded 1,047 million euros in loans in default until September. Most of this amount is considered “stock” inherited from the past, with little new bad debt emerging. More than 90% of non-performing loans are impaired, including 450 million euros that were guaranteed by the State.
Regalado expressed hope in the recovery of a significant part of the defaulted credit, since 60% of companies with bad credit continue to operate and more than 80% of the amount refers to credits of relatively small value, with an average of 60 thousand euros per credit.
As for financial results, BPF reported profits of 9.8 million euros until September, a drop of 44% compared to the same period in 2024. Banking income fell 2.8%, standing at 38.3 million euros, while total assets reduced 4%, totaling 706.8 million euros.
The BPF CEO highlighted that the bank’s focus is to support the economy, even if this means lower profitability. “We have no doubt whatsoever that we have to be accountable to the bank’s shareholders, who are the citizens.” He also mentioned that, although profitability is important, the priority is economic growth.
Until September, BPF’s operating costs were 19 million euros, reflecting an increase in personnel costs and general expenses. The bank, which had around 221 employees, intends to continue increasing its team.
Created to promote the modernization of companies and economic development in Portugal, the BPF also manages resources from the Recovery and Resilience Plan (PRR). Territorial Cohesion Minister Castro Almeida earlier this year criticized the bank’s impact and promised a relaunch, which led to new administration under the leadership of Gonçalo Regalado.