Banks

It seems it is decided. Novobanco is now not likely to be sold or merged with another bank, either national or international. Instead, Lone Star, the US asset management fund that is the bank’s [...]

If Novobanco were to be sold to a competitor in Portugal (read Caixa Geral de Depósitos or BCP), the competition authority would likely impose “remedies”. This is according to the President of [...]

Portugal’s development bank, Banco Português de Fomento (BFP), which is in charge of disbursing funds for projects funded by the EU-funded Recovery and Resilience Plan (RRP), has a new board of [...]

If State-owned  bank Caixa Geral de Depósitos buys Novobanco it could have systemic consequences for Portugal’s banking and financial sector warns the Governor of the Bank of Portugal, Mário [...]

Banco Santander posted profits of €12.574Bn euros in 2024, an increase of 14% compared to 2023 and a record for the third consecutive year. Profits were due to “strong revenue growth” [...]

Portugal’s Novobanco, in which the State has a minority but substantial shareholding, is encouraging a bid from State-owned bank Caixa Geral de Depósitos in the forthcoming sale or floatation. [...]

Portugal’s CTT group is looking at several possibilities to reduce its exposure to Banco CTT. One of the possibilities on the table would be to create a spin-off, eventually listing the bank on [...]

Bank BPI, which is controlled by Caixabank, posted profits of €588 million for 2024, up 12% compared to the previous year. “It was the best year ever” announced the CEO João Pedro Oliveira e [...]

Abanca posted record profits of €1.2Bn in 2024, up 69.2% like-for-like on 2023. Without Portuguese bank Eurobic, which Abanca acquired last summer, Abanca would have made net profits of €853.3 [...]

The US vulture fund Lone Star, which has a 75% share of the capital of Portuguese bank Novobanco, is looking to get a valuation of €5Bn for the financial institution. This figure is the starting [...]