Espírito Santo H1 Profit Up - Quick Facts

8/16/2012 2:52 AM ET

Espírito Santo Financial Group S.A. (ESFOF.PK) on Thursday announced its consolidated results for the first half of 2012. Profit to equity holders rose to 233.0 million euros from 45.4 million euros last year. The company noted that positive results of the banking and insurance operations were significantly reinforced by the impact of the acquisition of the remaining 50.0% stake of BES Vida, by its principal banking subsidiary Banco Espírito Santo, from Crédit Agricole. The gain from BES Vida at the Group results for the period was 208.0 million euros.

Espírito Santo said its results for the first-half also reflect the positive, but greatly reduced, core business operations results that were constrained by the challenges resulting from the Eurozone crisis and the impact of the Financial Adjustments Programme adopted by Portugal.

Profit before income tax was 387.0 million euros compared to 234.8 million euros last year. Consolidated net interest income increased 16.4%, year-on-year.

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by RTT Staff Writer

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