Banks

The profits from Portugal’s main five banks could result in dividends of nearly €3Bn, exceeding the €2.4Bn paid out in 2023 according to a back-of-the-envelope calculation by business daily [...]

Portugal’s banks raked in €3.6Bn in the first three quarters of 2024. Profits from State-owned bank Caixa Geral de Depósitos (CGD) (€1.2Bn) catapulted the results of the country’s five largest [...]

The former president of the KPMG auditing company, Sikander Sattar, took the stand on Tuesday in the BES/GES case accusing the banking group’s former accountant Francisco Machado da Cruz [...]

The insurer Generali Tranquilidade is finalising its purchase of a share in the Portuguese banking services company Banco CTT. According to business daily Negócios, the deal should be signed [...]

Authorities should have stepped in quicker over GES problems says banker – and refuses to discuss €100 million loan to ESI The Chairman of bank BPI, Fernando Ulrich, called the loss of [...]

The CEO of bank BPI, João Pedro Oliveira e Costa has criticised an increase on the annual contribution – basically a tax on the banks – that the sector has to pay to fund the [...]

The CEO of Novobanco, Mark Bourke, says he is optimistic that the bank will be able to soon reach an agreement with the Resolution Fund on the contingent capital mechanism. The fund has provided [...]

Former GES boss Ricardo Salgado was a “compulsive liar” and tried to bribe lawyer Marcelo Rebelo de Sousa (Now Portugal’s President) with legal work, a Lisbon court has heard. The former and now [...]

José Maria Ricciardi, Ricardo Salgado’s cousin and former president of Banco Espírito Santo Investment (BESI), told judges at a Lisbon court yesterday that by December 2013 BESI was [...]

The Resolution Fund and Novobanco have now reached a “principle of understanding” for the early termination of the Contingent Capital Agreement (CCA), paving the way for the bank’s sale or [...]