Banks

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 [...]

The former president of Banco Espírito Santo Angola (BESA), Álvaro Sobrinho, has been accused of syphoning off €6Bn from the bank. Álvaro Sobrinho has, according to CNN Portugal, been accused of [...]

International Club of Portugal: What we really learnt from BCP Chairman Nuno Amado and Novobanco outgoing CEO António Ramalho. The presentation on Portugal, its economy and banking system from [...]

Portugal’s public spending watchdog Tribunal de Contas has concluded that a bank that has received around €11Bn to detoxify its balance sheets and keep it afloat since 2014, did not act in the [...]

The Dutch bank ING has predicted a growth for Portugal’s economy of 6.6% — a forecast that is more optimistic than the government’s own forecasts. However, as the war in Ukraine drags on and [...]

There was no documented reasoning to explain Novobanco’s decision to sell off its subsidiary bank in Spain according to a report on the findings of an audit carried out by Deloitte. The sale was [...]

Portuguese bank Banif failed to sell its banking interests in Brazil after a deal with one of São Paulo’s most successful lawyers Siqueira Castro fell through. Now the company that owns Banif, [...]

The corporate audit consultancy Deloitte had doubts about a €77 million debt write-off for three Novobanco clients. In the cases involved, the auditor has not found sufficient support or [...]

The Chinese bank Haitong had paid €3.4 million to the Portuguese State to become the sole shareholder in the bank. This was achieved by buying the rights to convert assets through deferred taxes [...]

The international magazine Global Finance has voted Novo Banco as the best bank in Portugal when it comes to securities custodian services as ‘Best Sub-Custodian Bank 2022”. According to the [...]