Portugal’s Millennium bcp 2020 profit drops 39% on COVID-19 provisions

Portugal’s Millennium bcp 2020 profit drops 39% on COVID-19 provisions
LISBON, Feb 25 (Reuters) - Portugal’s largest listed bank Millennium bcp on Thursday reported a 39.4% drop in its 2020 net profit to 183 million euros ($223.83 million), hit by higher impairments and provisions in the wake of the COVID-19 pandemic.Loan provisions increased by 30.7% to around 509.9 million euros in 2020 from a year… Read More

Portugal’s EDP spurs green push with 24 bln euro investment plan

Portugal’s EDP spurs green push with 24 bln euro investment plan
LISBON, Feb 25 (Reuters) - EDP, Portugal’s largest utility, on Thursday announced plans to invest an unprecedented 24 billion euros ($29.27 billion) over five years mostly in renewable power plants and grids in the United States and Europe.It expects its “ambitious growth” plans in renewable energy to raise its earnings before interest, taxes, depreciation and… Read More