The Resolution Fund which is responsible for injecting cash into Novo Banco to ensure it meets ECB contingent capital levels has been given the green light by the government to ask the banking [...]
“Whoever signed off on the sale of Novo Banco to Lone Star should be strung up!” (Luís Filipe Vieira, President of Benfica FC) Some of the reckless entrepreneurs that used Portugal’s banking [...]
A financial black hole left by Banco Espírito Santo which collapsed in 2014 got €550 million larger in 2020 and now the total stands at nearly €7Bn. It means that scores of investors may never [...]
A former governor of the Bank of Portugal, Carlos Costa, has likened Novo Banco to a basket of partially rotten fruit. Addressing a parliamentary hearing this week into alleged mismanagement at [...]
Portuguese companies pay 69% more for loan servicing than other countries in the rest of the European Union. According to Público and based on ECB statistics from 2016 to 2019, it can be deduced [...]
A Portuguese judge has jailed a banker to 10 years in prison for falsifying IT data in order to cover up the true extent of the financial instability of now defunct private bank BPP. The judge [...]
Profits at state bank Caixa Geral de Depósitos (CGD) suffered a fall of 6% to €81 million in the first quarter of 2021. Money to offset credit impairments were reinforced at the start of the year [...]
According to a document published by the European Commission in 2018 on the estimated costs of restructuring Novo Banco, the Resolution Fund will have, in the very best scenario, to fork out [...]
Portugal’s public ministry has given the green light for the sale of the Herdade do Vale Feitoso estate to Vestein for €20.7 million. The estate was bought in 2004 by the Espírito Santo Group [...]
The economist, one-time president of Novo Banco and head of financial payments processing company SIBS, Vítor Bento, is the new president of Portugal’s banking association APB. Bento will replace [...]
