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 [...]
The increase in interest rates by central banks and the subsequent rise in yields on Portuguese sovereigns held by Portugal’s banking sector will have an impact but will “not endanger the sector” [...]
