Ivo Rosa, the judge served with deciding the outcome of one of the longest and costliest legal cases in Portuguese history – the case of Banco Espírito Santo (BES) and its ex-board [...]
Novobanco has suffered a devaluation of €29 million because of its exposure to Russian business debt following the Ukraine war. According to the news outlet ECO, Novobanco had a €49 million [...]
The Portuguese fund ESC Capital that contained assets belonging to the former Espírito Santo Group has been sold to the US fund Davidson Kempner for €850 million. Now awaiting approval from [...]
The Spanish real estate investors Merlin Properties has bought one of the most iconic modern buildings in Lisbon for €112.2 million. The purchase of the Novobanco HQ building located on Lisbon’s [...]
Portugal’s Caixa Geral de Depósitos (CGD) is preparing to close 23 branches in August. The news did not come from the bank, but rather from a union that represents public bank employees, STEC. [...]
The increase in interest rates has created a financial buffer of almost €700 million in BCP bank’s pension fund which can be used to reinforce the bank’s capital ratios in its Polish operation. [...]
Portugal’s banks are in no rush to raise interest rates on savers’ deposits even through the European Central Bank has done so by 0.5%. Portugal’s main five banks Santander Totta, CGD, Novobanco, [...]
After steering Novobanco through a six-year hurricane of turmoil, painful restructuring and media and parliamentary controversy, CEO António Ramalho has left the bank for Swiss pastures. He is [...]
Portugal’s banking system has finally fully recovered from a series of disasters including over-leveraged lending, capital ratio crises, banking failures and, of course, the pandemic over the [...]
S&P Global Ratings has issued a rating notice for Portugal’s Banco Comercial Português confirming its current classification of ‘BB/B’. The rating is based on the conviction that the bank has [...]
