Novo Banco has hit back at allegations by the daily newspaper Público that it has sold off its insurance arm in a less than transparent if not profitable operation. The bank, led by António [...]
Novo Banco is to hire an independent international consultant to evaluate the sale of property portfolios that have been at the centre of controversy in recent weeks over allegations the bank [...]
Portugal’s gold reserves, some of it stolen by the Nazis from Jews in the late 1930s and World War II, has skyrocketed in value with the increase in gold prices. Portugal, while not the richest [...]
Millennium bcp account holders who have €10,000 or more in their accounts will now have to pay an account maintenance charge. According to the bank’s website, Millennium bcp, managed by [...]
Novo Banco closed the first half of 2020 with losses of €555.3 million. In the first half of 2019 it lost €400 million. The losses were essentially explained by the negative ‘legacy’ results from [...]
Millennium bcp has suffered losses of €109 million because of the Covid-19 pandemic, putting a dent in profits of 55%. The bank led by Miguel Maya suffered losses of €108.8 million for the bank [...]
House valuation surveys undertaken by Portuguese banks hit a new all-time record in June. According to bank surveyors, the average value on property rose one euro to €1,115 per square metre in [...]
The Portuguese President has opined over the continuing controversial sagas involving Novo Banco – this time over the alleged sale of bank properties at bargain basement prices. After a [...]
Spanish bank Bankinter is looking to continue its sustained growth in Portugal but is ruling out any mergers or takeovers … for now. In an interview with the Portuguese business daily Jornal [...]
A severe economic crisis following the Covid-19 pandemic and a slow recovery could mean Portugal’s banks will need a bailout to stay afloat. Hardly yet recovered after the previous financial [...]
