Banks

Portugal’s Novobanco, in which the State has a minority but substantial shareholding, is encouraging a bid from State-owned bank Caixa Geral de Depósitos in the forthcoming sale or floatation. [...]

Portugal’s CTT group is looking at several possibilities to reduce its exposure to Banco CTT. One of the possibilities on the table would be to create a spin-off, eventually listing the bank on [...]

Bank BPI, which is controlled by Caixabank, posted profits of €588 million for 2024, up 12% compared to the previous year. “It was the best year ever” announced the CEO João Pedro Oliveira e [...]

Abanca posted record profits of €1.2Bn in 2024, up 69.2% like-for-like on 2023. Without Portuguese bank Eurobic, which Abanca acquired last summer, Abanca would have made net profits of €853.3 [...]

The US vulture fund Lone Star, which has a 75% share of the capital of Portuguese bank Novobanco, is looking to get a valuation of €5Bn for the financial institution. This figure is the starting [...]

Falling interest rates will reflect on Portugal’s banking sector resulting in lower profits in 2025 than have been the case over the past four years. Nevertheless, profits will continue to be [...]

The shares of Portuguese high street bank BCP exceeded the psychological barrier of 50 cents per share on Monday (20/1) for the first time since May 2016. The increase drove the value of BCP [...]

The US asset management firm Lone Star that holds the controlling share in Portugal’s Novobanco is said to be “selecting advisors” to explore a possible sale or Initial Public Offer (IPO). [...]

The President of State-owned bank Caixa Geral de Depósitos, Paulo Macedo, says the bank has an “obligation” to bring in between €800 million and €1.3Bn in profits per year, ensuring that the bank [...]

Portugal’s banking sector, represented by the Portuguese Banking Association (APB), says it is against a proposed social security levy on company profits. The Portuguese government’s [...]