Agricultural Credit closed the first six months of the year with a net profit of 168.5 million euros. This value represents a slight decline compared to the same period last year.
The decrease in profits is mainly explained by the easing of interest rates, which affected the financial margin of the institution. This factor had a significant impact on the profitability of the agricultural bank during the first half of the year.
Furthermore, the costs associated with the storms, including Storm Kristin, also contributed to the reduction in results. These extraordinary charges weighed on the financial performance of Agricultural Credit during the period under review.
