Santiago de Compostela, Spain, July 27, 2026 (Lusa) - The chair of Spanish banking group, Abanca, stated on Monday that the group's performance in the Portuguese market is outperforming that in Spain, noting that «both are very good», but that growth in Portugal is stronger.
«Portugal is growing more than Spain, despite the excellent figures we have here,» said the chairman of the Spanish financial group, Juan Carlos Escotet Rodríguez, at a press conference today in Santiago de Compostela, Spain, to present the results for the first six months of the year.
«Growth is proving to be even better than in Spain. Both are very good, but Portugal's is better,» he emphasised, noting that the Portuguese market accounted for 32% of the approximately €10 billion in new loans granted by the financial group to individuals and businesses in the first half of the year.
The group controlled by Escotet acquired Eurobic in Portugal in 2024 and completed the integration of the financial institution in the final quarter of 2025, with Abanca Portugal becoming a subsidiary of the group.
Following the closure of 24 branches in the country, Abanca Portugal now has 229 branches.
When asked by journalists about the schemes set up by the Portuguese Government to support mortgage lending for young people up to the age of 35, through a state guarantee, the chairman stated that this scheme «is a magnificent initiative».
Whilst acknowledging that the expected level of demand has not yet materialised, take-up «has been improving gradually, but probably still lacks some momentum».
«Whenever there is demand that is compatible with our risk policy, we will be available to grant loans,» he said, adding that granting loans «remains a priority and the best way to safeguard the net interest margin», particularly when interest rates are falling.
Abanca Portugal recorded a profit of €41.6 million in the first half of 2026, up 11.9% on the same period in 2025, representing 17% of the Spanish group's revenue.
Turnover totalled €21.025 billion at the end of the half-year.
The group as a whole recorded a profit of €386 million from January to June, a fall of 9.6% compared with the same period in 2025, which the financial institution attributed, in its results presentation document, to an increase in the effective tax rate, caused by reduced use of tax credits.
*** Lusa travelled at the invitation of Abanca Portugal ***
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