The mutual bank Montepio registered a consolidated loss of €86 million in 2020 after a €9 million profit the year before. The members of the Montepio General Mutualist Association (Associação [...]
State-owned bank Caixa Geral de Depósitos (CGD) is the first bank in Portugal to issue a sustainable bond. The bank led by Paulo Macedo aims to make €500 million and the finance attracted by the [...]
A Portuguese banker who was sentenced to 10 years in prison for tax fraud, abuse of trust and money laundering has had part of a court’s judgement overturned on appeal. The Lisbon Court of Appeal [...]
There are still no concrete bidders for Portugal’s EuroBic, a small Portuguese bank which continues to be in debt and has been on the market for 18 months. EuroBic registered losses of €5 million [...]
Four International funds are said to be interested in buying up the loans portfolio Project Harvey which contains non-performing loans from big debtors like Grupo Lena and Urbanos. The funds [...]
The Banco Espírito Santo led by Ricardo Salgado was an outstanding example of cronyism. It supported many clients for personal and political reasons, rather than because their projects were [...]
Novo Banco is to receive a further €2.4 million from a real estate fund which belonged to the former Grupo Espírito Santo (GES). GES became insolvent last year with Novo Banco having a €60 [...]
Some 80% of bank workers at one of Portugal’s largest commercial banks, Millennium bcp, have accepted an amicable recision agreement which will see 760 staff go as part of the company’s [...]
The bank BBVA is to set aside €200Bn for sustainable financing to 2025. The amount announced is double the initial amount foreseen which had been announced in February 2018 (€100Bn). The goal, [...]
A steering group is to be set up by the government to look into the millions of losses suffered by bank customers who bought commercial paper in troubled banks Banco Espírito Santo and Banif [...]
