The bank says that the increase in profits was achieved "despite the adverse effects related to Bank Millennium", the bank that BCP has in Poland and where it has had losses related to loans granted in Swiss francs.

Between January and March, BCP had charges of 205.7 million euros associated with the portfolio of mortgage loans in Swiss francs for the operation in Poland. In a positive sense, also in Poland, it had gains of 127 million euros with the sale of the stake in Millennium Financial Services.

In consolidated terms, the financial margin (the difference between what the bank charges on loans and pays on deposits) rose 42.9% to 664.6 million euros.