Lisbon, Jan. 28, 2025 (Lusa) - EuroBic contributed €350 million to Abanca's profit in 2024, the Spanish banking group announced on Tuesday at its results presentation press conference.

Last year, the Abanca group made a record profit of €1.203 billion, with recurring net income of around €850 million, while €350 million came from the Eurobic operation (the purchase of which was finalised in 2024).

Today, at a press conference held in Santiago de Compostela (Galicia), the chairman of Abanca, Juan Carlos Escotet, said that the integration of the operation in Portugal is progressing at a "good pace" and that it is "a very complementary merger" that gives the group a "greater presence in a strategic market".

The executive chairman, Francisco Botas, said that the takeover of EuroBic was "successful" and that, following the acquisition in Portugal, there have been changes to the internal governance structure, the bank's practices have been improved and new commercial policies have been put in place. He also said that one of the advantages of the operation in Portugal after the purchase of EuroBic is the large branch network that Abanca now has.

IM/ADB // ADB.

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