Banks

A new banking code will pave the way for Portugal’s banking supervisor, the Bank of Portugal, to force majority shareholders in the country’s largest banks to sell their positions if the [...]

The CEO of Portuguese State bank Caixa Geral de Depósitos argued this week that Portugal’s banking sector will likely consolidate over the next two years. That consolidation, which could involve [...]

The President of Euronext Lisbon believes that Portugal’s new Government-backed development bank Banco Português de Fomento (BPF) which begins operations in November, must put up State guarantees [...]

The US vulture fund Lone Star, which has a controlling interest in Portugal’s Novo Banco, is to make changes to the bank’s management structure. On Thursday next week, the [...]

The end of the Brexit transition period is looming and the UK has so far failed to negotiate a trading deal with its European partners in the EU. Now, several UK banks say that they will withdraw [...]

The president of the Portuguese Banking Association says that the Resolution Fund should continue to inject money into Novo Banco because “State commitments should be met.” In an interview with [...]

Portugal’s mutual bank Montepio is planning to make 800 staff redundant as part of a major restructuring process. The bank is to ask the Government to issue the statute of a company under [...]

Thousands of British citizens whose registered address is in Portugal and who do not have a second home in the United Kingdom risk losing their bank accounts by the end of the year. Lloyds, [...]

Portugal’s audit office says that it is prepared to carry out a fresh audit into Novo Banco if required to by parliament. The offer from the Tribunal de Contas (audit office) comes after the head [...]

Novo Banco is to close 20 branches by the end of the year, most of them in city centres, as part of a continuing drive to cut costs and move towards digital online banking. The bank’s CEO, [...]