Portuguese banks are succeeding in slashing their ratios of soured loans but still have the third highest amount of NPLs in the Euro Zone. This is according to the European Central Bank which [...]
The Portuguese Government has given the green light to the mutual bank Montepio to shed 400 jobs over the next three years as part of a major restructuring process. The bank is €56 million in the [...]
The Bank of Portugal is to appeal a decision by a court which exonerated the accountancy firm KPMG of cooking the books in the case of Banco Espírito Santo which collapsed in 2014 leaving [...]
Novo Banco says it will sell off its Novo Banco Espanhã banking interests in Spain by March this year. According to El Confidencial a lack of interested parties in the purchase of its Spanish [...]
The Governor of the Bank of Portugal and former finance minister Mário Centeno has declared his investment interests in seven Portuguese companies listed on the stock market. His predecessor, [...]
Britain’s departure from the European Union on 1 January means that banks and financial entities based in the United Kingdom have now lost their licence to operate on Portuguese territory. The [...]
Novo Banco has set up a team of 40 staff to organise all the paperwork requested by the inquiry and audit commissions into bad management at the bank. The special task force, which will have to [...]
The Bank of Portugal estimates that 15% or €11Bn worth of company loans, the instalments and or the interest on which was temporarily frozen because of the moratoria, may never get paid back by [...]
A senior director at the US ratings agency Standard & Poor’s says that the Portuguese bank Novo Banco is being used in a game of politics in which the opposition PSD party is trying to score [...]
Despite a challenging year for the financial sector, Montepio Crédito says that it should round off the year with a net result of slightly over €4 million. “We expect to get to the end of the [...]
