A new Government-owned national development bank is to be created by merging IFD (Instituição Financeira de Desenvolvimento) and PME Investment into SPGM. It will mean the creation of a new bank [...]
The insurance company Fidelidade has purchased €1.4 million worth of BCP perpetual bonds. The bank communicated the information to the market about Fidelidade’s acquisition of its perpetual long [...]
The European Commission issued a warning today (20 May) that Portugal’s banks could be exposed to the Angolan slump whose oil-reliant economy is suffering as a result in the international [...]
Portugal’s BCP bank saw profits tumble by 77% in the first quarter of 2020 to register a net profit of €35 million. The bank explained the fall on the pandemic which shut down the economy in [...]
The outgoing governor of the Bank of Portugal Carlos Costa says that Mário Centeno could be a “great governor” to lead the country’s central bank. In an interview with the weekend newspaper [...]
Portuguese banks lent €952 million for mortgages in March bringing the total for home loans for the first quarter of 2020 to €2.84Bn. It was the quarter with the highest amount of credit lent by [...]
Clients of bank Santander Totta have applied for grace periods on loans worth €9Bn. In all they represent 82,000 families and companies adding up to 25% of all the bank’s personal clients and 40% [...]
Portugal’s finance minister Mário Centeno stirred up a hornets’ nest this week after stating in parliament that the Resolution Fund created to bail out Novo Banco was the “most disastrous fund” [...]
The Prime Minister has sided with Portugal’s banks over tough lending criteria for State-backed loans during the Covid-19 crisis. “The money must be distributed prudently because we’re dealing [...]
Portugal’s clearing banks have been given an extra year to comply with a Bank of Portugal regulation that they must have a capital reserve to cover the inherent risks from their lending activity. [...]
