After losing around €6Bn in deposits since the start of the year, much of which was invested in government savings bonds that offered higher rates of interest, Portugal’s banks recovered family [...]
The Oriente Foundation has reached an agreement with the Chinese financial institution Vcredit to sell 100% of Banco Português de Gestão (BPG) for more than €20 million. At present, the two [...]
Portugal’s mutual bank Banco Montepio announced today (Monday, August 28) that it has “successfully completed” the sale of the stake it still retained (29.22%) in Finibanco Angola in the Nigerian [...]
The Banco Luso-Brasileiro (BLP) saw first half profits up by over 47% after suffering accumulated losses of €20 million since 2012. The private bank controlled by one of Portugal’s richest [...]
Portugal’s Supreme Court of Justice has ruled that the Resolution Fund – set up in 2014 to manage the toxic assets of failed bank Banco Espírito Santo and provide cashflow to the ‘good’ [...]
Portugal’s seven largest banks must submit a report to the European banking supervisor containing detailed data that will enable Brussels to evaluate the risk of high interest rates on their [...]
Banks in Portugal have closed 1,077 branches up and down the country over the past five years – the majority in Lisbon, Porto, Braga and Aveiro. According to a study released by the Bank of [...]
Portuguese bank profits soared by 50% in 2022 to €2.97Bn in the best result since the global financial crisis of 2007 according to calculations from the Bank of Portugal. The strong result was [...]
Portuguese State-owned bank Caixa Geral de Depósitos posted a historic profit of €608 million for the first half of 2023, up 25% than the same period last year, thanks to a strong increase [...]
The Bank of Portugal has issued a new reporting regulation for the top brass of financial institutions that will have to report fat cat salaries. The supervisor in Portugal is following the lead [...]
