Banks

Former GES boss Ricardo Salgado was a “compulsive liar” and tried to bribe lawyer Marcelo Rebelo de Sousa (Now Portugal’s President) with legal work, a Lisbon court has heard. The former and now [...]

José Maria Ricciardi, Ricardo Salgado’s cousin and former president of Banco Espírito Santo Investment (BESI), told judges at a Lisbon court yesterday that by December 2013 BESI was [...]

The Resolution Fund and Novobanco have now reached a “principle of understanding” for the early termination of the Contingent Capital Agreement (CCA), paving the way for the bank’s sale or [...]

In the week that the Portuguese Association of Banks (APB) celebrates its 40th anniversary, and the former chairman of failed Banco Espírito Santo, Ricardo Salgado is being tried for fraud, [...]

One of the biggest and most media sensational trials of the past 10 years in Portugal into the collapse of the Banco Espírito Santo banking empire opened in Lisbon yesterday. The most infamous of [...]

Failed bank Banco Português de Negócios (BPN) still represents around 50% of public company debts despite the fact that the bank failed and its assets and losses were taken over by the State 16 [...]

BCP has gone to the market and issued US$500 million in senior preferred bonds, with a five-year maturity and an early repayment option of four years, Bloomberg reported on Monday, citing sources [...]

The Government is preparing to change the structure of the administration of Portugal’s development bank, Banco do Fomento, in November, according to Jornal Económico in a report today. The [...]

From January 2026 Portugal’s banks will have to collectively set aside an extra €1Bn in reserves to meet current regulatory conditions. The decision, the banks say, could hamper their ability to [...]

Negotiations between the Resolution Fund and the US asset management company Lone Star have stalled over the future of Novobanco. The end of September was forecast as the time when negotiations [...]