Banks

A Portuguese bank has warned that the country’s property boom, which has lasted for the past eight years, could be coming to an end. Novobanco, led by Mark Bourke, has predicted that the current [...]

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 [...]