Banks

Four of Portugal’s high street banks raked in profits of €2Bn in 2022, expected to be close to €3Bn with interest. Caixa Geral de Depósitos posted end-of-year profits of €2Bn or €5.5 million per [...]

A ruling from the European Court of Human Rights says that the Portuguese State is not responsible for the hundreds of small savers who ploughed their life savings into supposedly safe Banco [...]

Parvalorem, the Portuguese State-owned company that inherited the toxic assets and employees from the failed Banco Português de Negócios (BPN), has paid out between €200-€350 million in [...]

The Portuguese State is planning to become the second largest shareholder in Novobanco – the bank created in 2014 to hold the recoverable assets and deposits from Banco Espírito Santo which [...]

The Portuguese Banking Association has warned the Portuguese Parliament that prohibiting (further) bank charges could violate the constitution while sidelining the Bank of Portugal. The [...]

Portugal’s Ministry of Finance announced today (Monday, 13 February) that the restructuring programme at Novobanco has been successfully completed. The successful restructuring has contributed to [...]

Banco Montepio is preparing to announce historic results for 2022, although the bank lost market share in the mortgage market. According to ECO online, the bank’s president, Pedro Leitão warned [...]

BPI bank registered profits of €365 million for 2022, an increase of 19% on 2021. The bank announced it would pay out dividends of €284 million (almost €100 million more than in 2021) to its [...]

Portugal’s banking sector has not been in such a healthy position in recent history as it is now. Its transformation ratio or loan-to-deposit ratio is at its lowest level since March 1998 and is [...]

The Portuguese government has confirmed that it has transferred the pension fund of public bank Caixa Geral de Depósitos to Caixa Geral de Aposentações for €3Bn. The decision enshrined in a [...]