Banks

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 [...]

The bank Crédito Agrícola closed the first half of 2021 with a net result of €96.5 million, up 92.5% YoY on 2020. The bank’s business contributed to the result by €84.5 million which corresponds [...]

The CEO of the Portuguese Government’s investment bank Banco Português de Fomento (BPF), Beatriz Freitas, is to stand in as the bank’s chair until a permanent candidate can be selected. The man [...]

Novo Banco, the bank led by António Ramalho, has obtained a profit of €137.7 million for the first half of 2021. It had already achieved its first quarterly profit since it was created in 2014 [...]

The European Central Bank’s decision to buy up increasing quantities of Portuguese sovereign bonds has resulted in the ECB now holding 46% of Portugal’s public debt. According to calculations [...]

The Portuguese banker and new President of Credit Suisse Group AG, António Horta-Osório is faced with the challenge of deep cleaning around €5.5Bn in debts from the troubled Swiss bank. The debts [...]

Crédito Agrícola has bought Porto Palácio Hotel from Sonae Capital for €62.5 million. Sonae Capital sold the hotel to the fund CA Património which is held by Crédito Agrícola. The hotel used to [...]

Two reports used in the defence of former president of Banco Espírito Santo have blamed the management that followed him for the gargantuan losses which led the bank to collapse in 2014. Ricardo [...]

Project Harvey, the name Novo Banco has given to a portfolio of bad loans or NPLs worth €640 million, will include the debts from the construction company Grupo Lena and removals and logistics [...]

The Spanish bank Bankinter posted profits of €1.1Bn in the first half of 2021, including a €896 million windfall for selling off Línea Directa’ while Portuguese agencies made a €26 million [...]